Washington: Amidst the ongoing war in Ukraine, India is buying a lot of oil from Russia. Leaders of western countries including Ukraine have criticized India for this matter. However, Gita Gopinath, First Deputy Managing Director of the International Monetary Fund (IMF), says that 'what India is doing is absolutely right.' Let us tell you that recently the G7 and its allies have set a price cap for Russian oil.
Talking to the media, Gopinath said that from the world's point of view, what is most important is to ensure that the oil supply in the market remains at a high level. In such a situation, buying oil from Russia by India is currently in accordance with the price cap strategy of America and Europe. Gopinath said, 'We need to ensure the supply of oil in the market and if countries like India are buying it (oil) at a lower price, then I think it is absolutely correct.' Gopinath has come to India these days to attend the G20 meetings.
Let us tell you that the G7 group of rich countries and Australia agreed to set the price of Russian oil at $60 per barrel earlier this month. These countries say that they will tighten the screws on Russia so that it cannot buy resources for the Ukraine war. Although India has not supported this move of G7. Western countries have criticized India's decision to continue buying oil from Russia amid the Ukraine war. While India has repeatedly appealed for peace talks in Ukraine, India has stuck to its stand that it will continue to buy oil from wherever it gets a good deal.
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