India fears Russian oil price fixing: Energy markets are under enormous pressure

28 September, 2022
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India fears Russian oil price fixing: Energy markets are under enormous pressure

Indian Foreign Minister Subramaniam Jaishankar said that energy markets are under severe pressure recently, against the backdrop of the initiative to impose a limit on the price of Russian oil.


“It is important to understand that energy markets are already under tremendous pressure, countries of the Southern Hemisphere are already facing difficulties in accessing limited energy resources, in terms of price and availability,” Jaishankar added in a press conference with his US counterpart Anthony Blinken.


"We will judge how this situation affects us and other countries in the southern hemisphere," the minister added, adding that he "has already conveyed New Delhi's concerns on this issue to the American side."


On September 8, US Deputy Secretary of the Treasury Wally Adeemo announced that the United States intends to impose a ceiling on the price of Russian oil by next December, noting that “the ceiling of the price of Russian oil, which the United States and its allies will impose, will be higher than the cost of its production.”


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