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'No anxiety over proposed cap on Russian crude by West'
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IANS | 16 Nov, 2022
Petroleum Minister Hardeep Puri on Wednesday said that there was no
anxiety that Western nations' proposed cap on Russian oil could cut
shipping availability for Indian imports.
"I have no
anxiety on that. Market forces will deal with that. We will act
according to the situation," Puri said on being asked about the proposed
cap on Russian crude.
Puri, who was interacting with the media
on the sidelines of a function commemorating the World LPG Week, in
response to a question on Russian oil company Gazprom not supplying
liquified natural gas to GAIL, said that this discussion has been going
on between GAIL and Gazprom.
"We have a very time-tested
relationship with the countries involved, with the entities involved. If
I remember correctly, there is a sanction on the European entity and
our contract was with somebody else. That discussion is going on. It
will be resolved. At least, my expectation is that it will be resolved,"
he said.
When quizzed on how oil marketing companies would get
compensated for selling petrol and diesel at a loss for the past several
months now, Puri said, "Obviously, they will want to be compensated...
How they will be compensated (whether) by charging you later or asking
for other compensation... These are big companies so I don't get
involved in that."
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
|
66.20
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64.50 |
UK Pound
|
87.50
|
84.65 |
Euro
|
78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
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