Served as Deputy Secretary of the Treasury of the United States Adeyemo met Finance Minister Nirmala Sitharaman and discussed issues related to economic ties between the two countries, and discussed measures to limit Russia's income after the invasion of Ukraine.
US Treasury Deputy Secretary Wally Ademo is on a three-day visit to India, Sarkar told reporters. As part of sanctions aimed at squeezing Moscow's revenue streams after Russia's invasion of Ukraine, the US urged India to join a coalition seeking to impose price caps on Russian oil.
"We think this is related to our objective, which is to reduce Russia's revenue. That's why we are providing them with information. We will continue to negotiate with them," he said.
Served as Deputy Secretary of the Treasury of the United States Adamo said that energy, food grains trade are kept out of sanctions by Russia and countries like India are free to make deals using any currency including local currency.
The war between Ukraine and Russia has disrupted supplies, raising the prices of crude oil and some food products. Adeyemo said that the final price has not been fixed yet, but we should also keep in mind that oil production should not be unviable for Russia.