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India Seek Consensus Before Supporting Price Cap


India will seek broader consensus before it supports the US-led cap on Russian oil.

  • US Treasury officials are rallying support to cut Russian revenue this week when they travel to Mumbai and New Delhi.
  • India is hesitant to join the plan unless a consensus is reached with all buyers, according to Bloomberg.
  • The effectiveness of an oil-price cap could rely on agreement from China and India, which have been the main nations taking up spare Russian supplies.

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