Trade

US Hopes India & China Will Put Price Caps on Russian Oil as Moscow Surges Energy Exports to New Delhi & Beijing

US Hopes India & China Will Put Price Caps on Russian Oil as Moscow Surges Energy Exports to New Delhi & Beijing

The White House called on India and China to implement the G7’s price restrictions on Russian oil exports. Since the West started to curb energy exports from Moscow in response to the war in Ukraine, India and China have significantly increased their imports of Russian energy. On Tuesday, Moscow and Beijing signed a new agreement to trade oil in yuan and rubles. 

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