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India to Tell US That Russia Oil Price Cap Needs Consensus

  • US Treasury officials rallying support to cut Russian revenue
  • India expected to seek consensus among all buyers on price cap
Updated on

India will seek broader consensus before it supports US-led efforts to cap the price of Russian oil, which American officials are expected to push for this week when they travel to Mumbai and New Delhi.

The South Asian nation, which has emerged as one of the biggest buyers of Russian oil since the invasion of Ukraine, is hesitant to join the plan unless a consensus is reached with all buyers, according to people familiar with the matter, asking not to be identified because the deliberations aren’t public.