US warns against rising oil imports

NOW the united states is preparing to step up enforcement of sanctions against moscow and according to a senior u.s official a significant increase in russian oil imports by india could expose new delhi to a great risk the current u.s sanctions against russia do not prevent other countries from buying russian oil but this comment raises expectations that washington will attempt to restrict other countries oil purchases to normal levels the biden administration is coordinating with india and european countries to mitigate the impact of the war on energy markets it has also encouraged reducing dependence on russian energy u.s sanctions are reducing the ability of russia to get crude to market the biden administration has also banned u.s imports of russian energy including oil but it has so far not targeted russia's oil and gas exports to other countries according to the u.s officials washington has no problems if india settles straight with russia in rupees or continues to pay in dollars provided they do not significantly raise the purchases and the transactions are sanction compliant and with permitted entities india is the world's third biggest oil importer and consumer india has purchased at least 13 million barrels of russian oil since the 24th of february it's a significant increase compared with nearly 16 million barrels in all of 2021. while other buyers moved away indian oil refineries have been taking advantage of deep discounts india is devising a mechanism to settle trade with russia including through payments and rupees new delhi continues to buy russian oil as it has refused to explicitly condemn moscow's actions but it has called for an immediate ceasefire in ukraine india is abstained from voting on multiple multiple u.n resolutions on the war earlier u.s president joe biden called india's stance against russia somewhat shaky the comment comes ahead of russian foreign minister sergey lavrov's visit in india u.s deputy national security advisor for economics the leap singh is also currently on a visit to india beyond is now available in your country.