“Price Of Oil Breaking Our Back”: Foreign Minister S Jaishankar In US

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India nowadays aired its issues over pressures concerning buying oil at less expensive rates, at the same time as taking questions concerning charge cap on Russian oil, proposed via way of means of the G7 (Group of Seven industrialised countries). At a assembly with US Secretary of State Antony Blinken, Foreign Minister S Jaishankar stated, “We are a $2,000 in step with capita economy. We have issues approximately the charge of oil. The charge of oil is breaking our back. This is our huge difficulty,” suggested information organization ANI.

Briefing the media after the assembly, Mr Jaishankar stated the 2 aspects had a “short dialogue” at the charge cap, and that the problem of oil for growing countries is an issue of deep difficulty. “We are operating with companions in order that oil sales do not gasoline the Ukrainian war,” Mr Blinken stated on the joint press conference.

The G7 had proposed the cap with the concept of restricting Russia’s sales from oil income as a part of sanctions in opposition to it. The Biden management is making an attempt to face up to a push on its enforcement, to preserve Russian oil to be had in international marketplace. European Union countries are looking to attain an accord at the contentious issue, on which it’s far dealing with resistance from numerous member countries.

For countries like India, the huge difficulty is wherein the charge cap may be set. Since the invasion of Ukraine and the following sanctions on Russia, India has been the second one biggest consumer of Russian oil after China, with huge reductions provided via way of means of Moscow.

“You ought to recognize that over the past months, the strength marketplace has been below wonderful strain. Countries withinside the international south have discovered it tough to compete for confined strength, now no longer simply in phrases of escalating charges however frequently in phrases of availability,” Mr Jaishankar instructed reporters.

“Our difficulty in the meanwhile is that strength markets already below strain need to melt up. We could choose any scenario via way of means of the way it influences us and the alternative international locations… there may be a very, very deep difficulty amongst growing international locations on how their strength safety wishes are addressed or now no longer,” he added.

Mr Jaishankar is on a go to to americaA for bilateral consultations with numerous ministers, along with Mr Blinken. The dialogue, he later stated, turned into on political coordination, and evaluation on local and international challenge.

During the bilateral talks nowadays, americaA reiterated Prime Minister Narendra Modi’s touch upon Ukraine conflict — that “this isn’t the generation for war”. Citing the remark at some point of the dialogue, Mr Blinken stated, “We could not agree greater”.

Earlier nowadays, Mr Jaishankar had a dialogue with US Defence Secretary Lloyd Austin on the Pentagon.

Pointing to China’s stance withinside the Indo-Pacific region, Mr Jaishankar stated, “I do percentage with you that the worldwide scenario has end up a long way greater difficult this year (due to) a number of reasons, the Indo-Pacific in particular”.