U.S. Deputy Treasury Secretary Wally Adeyemo said on Tuesday he was hopeful that China and India would join the coalition of countries seeking to impose a price cap on Russian oil or simply use the cap to buy Russian oil at a cheaper price.

“Our hope is that countries like China and India will join the price cap coalition, or take advantage of the price cap coalition, to lower the amount of money” that Russia makes from oil exports,” Adeyemo told a financial industry conference in New York.

(Reporting by David Lawder, Editing by Franklin Paul)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor