Exclusive: India's Bank of Baroda stops clearing payment for above-cap "russian" oil - sources

[Litwin]

Imagine the effects of the price cap if the cap would be at $40 !

Exclusive: India's Bank of Baroda stops clearing payment for above-cap Russian oil - sources

India's Bank of Baroda has stopped clearing payments for Russian oil sold above the price cap set by the West from this month, three sources with direct knowledge of the matter said, a move that could expedite transition to a rupee trade mechanism.

www.reuters.com

Exclusive: India's Bank of Baroda stops clearing payment for above-cap "russian" oil - sources
NEW DELHI, April 4 (Reuters) - India's Bank of Baroda (BOB.NS) has stopped clearing payments for Russian oil sold above the price cap set by the West from this month, three sources with direct knowledge of the matter said, a move that could expedite transition to a rupee trade mechanism.

Some Indian refiners were paying in the United Arab Emirates dirham currency for Russian low-sulphur crude priced above the $60 a barrel cap using Bank of Baroda, mainly to Dubai-based traders, sources said.

 

[Litwin]

 

[Donald H]

OPEC+ Oil Pumping Cut Brings Market 'Stability' and Busts Sanctions on Russia

OPEC's cut in production has undermined US-led attempts to cap the export price of Russian oil. Mohammed Alhamed and professor Mark Frost said the US should back off and let market forces rule.

sputniknews.com

It's obvious now that America has no leverage against Russia with oil or nat.gas.