MOSCOW, Sep 2 — PRIME. India will not support the G7 mechanism to introduce a “price ceiling” for Russian oil, Nandan Unnikrishnan, an Indian political scientist and an honorary member of the Observer Research Foundation, told RIA Novosti.
“India, in my opinion, will not join this, despite the fact that it lowers the price and meets the economic challenges that India faces. India will not join this decision about the “ceiling”, because the decision is motivated by the sanctions regime against Russia And India does not join these sanctions, because these sanctions are not approved by the United Nations, and India recognizes only those sanctions that are announced or adopted by the UN,” the expert noted.
According to Dmitry Birichevsky, Director of the Economic Cooperation Department of the Russian Ministry of Foreign Affairs, the introduction of a price ceiling on Russian energy resources will exacerbate the energy crisis, and in the event of such steps from the West, domestic companies will act on the basis of economic expediency. Commenting, among other things, on the results of the meeting of the G7 leaders, where the proposal on price restrictions was discussed, he noted that “theoretically, Western countries may try to introduce a” price ceiling “by putting pressure on companies providing financial, logistics and insurance services related to maritime oil supplies from Russia.
Unnikrishnan believes that if a “price ceiling” is introduced, “India will have to very carefully weigh its relations with many great powers, carefully calculate all the pluses and minuses.” At the same time, New Delhi should hardly be afraid of any secondary sanctions for the purchase of Russian oil.
“I don’t think it will come to the point where any secondary sanctions will be applied against India… The situation that is now in the Indo-Pacific region is a situation in which India finds partners among Western countries, especially among allies U.S. I don’t want to say that China is India’s enemy but India’s biggest challenge right now is China and India needs all these relationships with Western countries to balance China’s rise in the region India’s vision is fully shared by all these Western countries, so I don’t think they are going to impose any secondary sanctions against India,” the political scientist said.