US Treasury Secretary Janet Yellen described as “encouraging” talks with India about a proposed price cap on Russian oil that Washington is pushing to drive down oil prices and make it harder for Moscow to fund its war in Ukraine.
Yellen, who arrived in Seoul on Monday evening, told Reuters in an interview en route to the South Korean capital that she was feeling generally positive about the initiative.
For the latest headlines, follow our Google News channel online or via the app.
“We’ll see where they come out. The conversations I’ve had have generally been encouraging,” Yellen said aboard a military aircraft on her way from Indonesia to South Korea.
A senior Treasury official said India had made no promises on the oil price cap, but was working with the United States and had not “expressed hostility to this idea.”
Yellen told reporters on Saturday that she had held productive bilateral meetings about the proposed price cap with more than six counterparts on the sidelines of a meeting of Group of 20 finance officials on the Indonesian island of Bali.
The Treasury said she met there with officials from Saudi Arabia, Australia, South Africa, Turkey, and Singapore.
Yellen spoke with her Indian counterpart before leaving for Asia, but did not meet him in Bali, a senior Treasury official said. Other senior US Treasury officials have been in touch with lower-level Indian officials as well, the official said.
India wants Russia to discount its oil to less than $70 a barrelIndia is trying to get deeper discounts on Russian oil to compensate for the risk of dealing with the OPEC+ producer as other buyers turn away, ... World News
India soaks up every major Russian oil variety as flows persistIndia is doubling down on Russian crude oil purchases despite warnings from the US, snapping up every major grade from the OPEC+ producer as its war ... World News
US not to set any ‘red line’ for India’s oil imports from RussiaThe United States will not set any “red line” for India on its energy imports from Russia but does not want to see a “rapid acceleration” in purchases ... Energy
India defends purchases of Russian oil amid Ukraine warIndian government officials on Friday defended the continued buying of Russian oil, saying European countries were still purchasing hydrocarbons from ... World News
India, UAE discuss ways to strengthen energy cooperation: India’s oil ministerIndia and the UAE on Wednesday discussed ways to strengthen energy cooperation, India’s oil minister Dharmendra Pradhan said, despite the South Asian ... Energy
China, India boost physical crude oil prices as coronavirus punishes futuresRobust demand from China and India has bolstered physical crude oil prices from around the world, traders said, in contrast to the futures market that ... Coronavirus