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Russian envoy responds to US reaction to PM Modi’s comments to Putin on war in UkraineOUS News

Russia said on Friday it would stop supplying oil to the world market if the price cap proposed by the G-7 countries was not fair.

“If we consider that the prices are not fair and unacceptable to us, we will simply stop supplying the oil to world markets and to countries that join the American price cap initiative,” the Russian ambassador said in India, Denis Alipov, during a press conference. in New Delhi.

He said Russia will not follow any mechanism that is detrimental to its commercial interests.

With sanctions imposed by Western countries having little impact on Russia, G-7 countries and the European Union have proposed an oil price cap on Russian crude and refined products to limit Kremlin revenue.

Earlier this month, a statement released by G-7 finance ministers said the price cap was specifically designed to reduce Russian revenue and its ability to finance the war in Ukraine.

Alipov said the price cap will cause a severe shortage of oil in world markets and the price will rise sharply.

The United States has asked India to join the coalition to cap Russian oil prices, but New Delhi said it would “carefully consider” the proposal before making a decision.

“India has so far taken a cautious approach to this idea. It will not be beneficial for Indian interests,” Alipov said, acknowledging that India would pursue its own interests if such a measure were implemented.

Asked about Prime Minister Narendra Modi’s appeal to Russian President Vladimir Putin on the cessation of hostilities in UkraineAlipov said the remarks were in line with India’s position on the matter.

“The West only uses the quotes that suit it while ignoring other parts,” he said.

During a meeting with Putin in Samarkand, Modi had told the Russian leader that “the era of today is not one of war”, remarks which were perceived by some of the world leaders as a public rebuke.

Regarding reports that Pakistan has transferred weapons to Ukraine, Alipov said that if such deliveries took place, it would have a negative impact on Russia’s relations with Pakistan.

“As of now, there have been such unconfirmed reports. I don’t know the facts. If there is any confirmation of this, it will impact our relationship with Pakistan, there is no doubt about that” , said the Russian envoy.