August 12, 2022 15:14 GMT
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Indian Foreign Ministry Spokesperson Arindam Bagchi has told reporters today that India is under no pressure to reduce energy and arms imports from Russia.
- Bagchi: "Our decisions on what we do regarding purchase of oil or other things related to that will be guided by our energy security requirements."
- India had been targeted by the US Treasury Department as a potential subscriber to a US-led price cap on Russian oil. Russia responded to the prospect of a price cap by threatening to cut supply to countries who joined the initiative.
- Bagchi said that he has not been presented with any specific proposals for an oil price cap.
- India continues to elude the influence of the US-led alliance and have avoided condemning the Russian invasion of Ukraine or participating in sanctions.
- In July, India overtook China as the biggest importer of Russia crude oil.
- Today, Bloomberg reported that the Indian rupee is one of the currencies the Russian central bank is considering purchasing in lieu of US dollars and Euros.