Trade agreement in India? “They must limit oil purchases from Russia”

American trading negotiators told their counterparts from India that limiting the purchases of Russian oil by their country is necessary for the US to lower the customs rate and conclude a trade agreement from Delhi, “Reuters agency said on Friday, citing sources.

The representative of the American authorities told the agency that trade talks with India are on the right track, but you still need to work on the Indian side to deal with the US fears regarding market access, trade deficit and purchases of Russian oil.

In August, US President Donald Trump imposed an additional duty of 25 percent. On import from India to force Delhi to suspend the purchases of Russian oil at a reduced price. Thus, he raised the total duties on Indian goods to 50 percent.

On Thursday, the Bloomberg agency wrote that representatives of the Indian authorities told the US administration that a significant limitation of the import of Russian oil by refineries in their country would have to agree by Washington to the purchase of raw material by India from countries covered by sanctions, i.e. Iran and Venezuela.

The authorities in Delhi argued that the simultaneous cut -out of supplies to the oil refinery from Russia, Iran and Venezuela could lead to a jump in prices on the global market, “Bloomberg said.

The Minister of trade of India Piyush Goyal said this week in New York that his country would like to increase shopping of American oil and gas. – Our goals regarding energy security will contain a very large part of the US involvement – he said.

From Washington Natalia Dziurdzińska (PAP)

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