The US Treasury announced India’s encouraging position on marginal prices for oil from Russia

India’s position on the US proposal to cap Russian oil prices is encouraging, said US Treasury Secretary Janet Yellen. According to her, now the parties are negotiating on the establishment of the marginal cost.

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The head of the US Treasury also said that she was optimistic about the fate of Washington’s initiative as a whole.

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“Let’s see what happens. The discussions I had were mostly encouraging,” said Yellen, who is on a business trip to Asia.

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A senior US Treasury official, in turn, clarified that India has not made any official promises regarding the price ceiling, but continues to work with Washington and “does not express hostility towards the idea.”

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On July 13, Yellen said that she had already discussed the prospects for imposing restrictions with Chinese Vice Premier Liu He.

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Later, she noted that the introduction of restrictions could be beneficial to China and India, as it would lead to lower import costs.