Indian Oil Minister Pankaj Jain said Indian companies sometimes face delays in paying for oil they buy from Russia at prices above the $60 per barrel ceiling set by Western countries. It has been reported Economic Times.
According to Jain, no one is preventing Indian companies from purchasing Russian oil at a price higher than the ceiling price. If the price is over the limit, companies themselves find alternative payment options.
The minister also noted that most of the oil supply from Russia to India was carried out at a price of less than $60.
Earlier, Indian Finance Minister Nirmala Sitaraman to work The ability to buy crude from Russia at or above the G7 ceiling of $60 per barrel.
The decision to impose a ceiling on oil supply prices from Russia, adopted by the European Union countries, G7 countries and Australia, entered into force on December 5, 2022. The ceiling price has been set at $60 per barrel and will be reviewed regularly after January 15. Russia refused to accept the decision of the Western countries. On February 1, 2023, the Russian Federation began to ban the supply of Russian oil to countries using a ceiling price.