Top US official on India journey over oil import from Russia

By Express News Service

NEW DELHI:  The US has commenced its efforts to attempt to wean India off its oil imports from Russia. Elizabeth Rosenberg, Assistant Secretary for Terrorist Financing and Financial Crimes on the US Department of Treasury, will journey to Delhi and Mumbai following President Biden’s name for all-encompassing sanctions on Russia. 

“Assistant Secretary Rosenberg is travelling to New Delhi and Mumbai as part of a continued Treasury effort to have interaction with companions and allies across the implementation and enforcement of the unprecedented multilateral sanctions and export controls on Russia for its conflict on Ukraine,’’ a US Embassy spokesperson instructed this newspaper.

India imports lower than 1 per cent of its crude from Russia, opposite to some international locations within the European Union, which have upped imports. “Amid the persevering with battle in Ukraine, India is attempting to safe its personal pursuits as all European nations are,’’ mentioned Union Minister of Commerce, Piyush Goyal at Davos not too long ago.

EU international locations are importing bigger portions of petroleum merchandise from Russia. Italy, for example, has elevated its imports from Russia, which has exported 450,000 barrels of crude per day to Italy this month — greater than 4 instances of what they imported in February and the best ever since 2013. Italy is slated to overhaul the Netherlands because the EU’s largest import hub for seaborne Russian crude.

“In the present state of affairs, when inflation is at an all-time excessive, inflicting stress to individuals everywhere in the world, EU and European international locations proceed to purchase bigger portions than India ever considered shopping for,’’ Goyal added. According to sources, Secretary Rosenberg is predicted to fulfill authorities officers and in addition members of the petroleum trade in the private and non-private sector.