Sunday, December 18, 2022

Timid..

 
G-7 nations agreed to impose a limit on Russian oil in September, and have been working on the details ever since. At the time, the EU's energy chief, Kadri Simson, she was hoping China and India would support the price cap, too.

Both nations stepped up their purchases of Russian oil following Moscow's invasion of Ukraine, benefiting from discounted rates. Their participation is seen as essential if the restrictions on Russian oil are to work.
India's petroleum minister, Shri Hardeep S Puri, said he has a "moral duty" to his country's consumers. "We will buy oil from Russia, we will buy from wherever," he added.
As such, there are growing doubts about the true impact of the restrictions on Russia.
 Just a thought.

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