Germany claims India is “making the most” of the West’s sanctions on Russia. The German Chancellor’s foreign and security policy adviser, Jens Plotner, said that India is benefiting from the price cap on Russian oil imposed by the West. The statement comes just days after trade data reports revealed that Russia remained India’s biggest oil supplier for the third consecutive month in January. 28% of India’s total crude oil imports in January reportedly came from Russia. The price cap—introduced by G7 nations along with the EU and Australia—came into effect on December 5 and bars countries from paying more than $60 a barrel for Russian oil. Meanwhile, India’s love for discounted Russian oil is widening its trade deficit with Moscow, and the casualty is their much-touted rupee trade plan. Watch this report for full information.
