US Calls on India to Cap Russian Oil Prices

US Energy Secretary Jennifer Granholm's statement on Russian oil: Minister Granholm stated that they will call on India and Japan to support the ceiling price plan for Russian oil.

The United States is preparing to hold diplomatic talks on the Russian oil price cap plan that was included in the G-7 Summit. Energy Secretary Jennifer Granholm stated that they will call on countries including India and Japan to support the planned price cap. Minister Granholm will meet this week with her counterparts in Australia, India and Japan, which are among the Quad countries. It was noted that the meetings will also discuss cooperation on raw materials critical for clean energy, including sanctions imposing price limits on Russian oil exports. It is aimed to set the Russian oil price between 40-60 dollars. India has been one of the leading oil buyers for the Russians, who have recently faced market access problems due to sanctions. India has rapidly increased its purchases of Russian energy resources, with energy imports increasing by $8.8 billion from February 24 to June 30.

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