Yellen says India can buy as much Russian oil as it wants, but conditions apply

India can buy as much Russian oil as it wants, Yellen says. The caveat: it can't use Western insurance, finance and maritime services.

Indian oil companies can purchase oil at any price they want, as long as they don't use Western services like insurance, finance, and maritime services which are bound by the price cap, Yellen said, per Reuters.

said last week his country will continue buying discounted Russian oil as the relationship has worked to India's benefit. An anonymous Indian official also told Reuters the country will not follow the G7 price cap mechanism.

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