US Treasury official heads to India to debate Russian oil purchases

A Biden administration official headed to India on Tuesday to speak with officers and personal business about US sanctions, the Treasury Department mentioned, as Washington seeks to maintain India’s purchases of Russian oil from rising.

Elizabeth Rosenberg, the assistant secretary for Terrorist Financing and Financial Crimes, will go to New Delhi and Mumbai by means of Thursday, a Treasury spokesperson mentioned.

Another senior US official instructed Reuters on March 31 {that a} important improve in Russian oil exports by India may expose New Delhi to “great risk” as Washington prepares to step up enforcement of sanctions towards Moscow after its invasion of Ukraine.

Rosenberg’s go to is a part of a wider Biden administration effort to fan out to companions and allies world wide to speak with officers and business about implementation of US sanctions and export controls, the Treasury spokesperson mentioned.

“It’s important to talk to the parts of the world that are strong US partners on a whole host of other issues, and make sure we’re in close contact about our sanctions regime and working together to crack down on any evasion opportunities or evasion activities,” the spokesperson mentioned.

India, the world’s No. 3 oil importer, boosted Russian oil imports in April to about 277,000 barrels per day, up from 66,000 bpd in March as refiners purchase the discounted crude shunned by many Western international locations and corporations.

Current US sanctions towards Russia don’t forestall different international locations from shopping for Russian oil. But Biden administration officers have thought of so-called secondary sanctions that would prohibit these purchases. Tariffs and worth caps on Russian oil in addition to placing proceeds from Russian oil gross sales into escrow accounts that its oil sellers may faucet just for sure purchases have been into account. There have been no indications that such measures are imminent.

Rosenberg was anticipated to fulfill with each Indian authorities officers and personal and state refining corporations and different companies on matters starting from sanctions to meals safety.