US Deputy Secretary of Treasury Wally Adeyemo on Friday said India has "shown great interest" with respect to the proposal of capping Russian oil price.
The price cap will ensure that there is a reduction in revenues for Russia, he said during a media interaction here.
The US has imposed sanctions on Russia in the wake of the invasion of Ukraine.
"In my conversation with Indian officials and policymakers about the price cap coalition, they have shown great interest as this is in line with India's objective of lowering energy price for consumers. We are providing information to them and we will continue the conversation," Adeyemo said.
India and a few other countries have increased their purchase of oil from Russia and against this backdrop, the US is looking at ways to cap the Russian oil price.
On Friday, Adeyemo met Finance Minister Nirmala Sitharaman and among other topics, they discussed Indo-Pacific Economic Framework and India's G20 Presidency.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
US SEC Chief Gary Gensler To Step Down Clearing Way For Trump's Pick Trump Pick Matt Gaetz Withdraws As Nominee For US Attorney General India Blocks 17,000 WhatsApp Accounts Of Hackers From South-East Asia Russia's Firing Of ICBM On Ukraine Is Weapon's 1st Combat Use In History This Asian City Is Emerging As Sex Tourism Hub. It's Not Where You Think Maharashtra Chief Minister Pick Contentious For Both Ruling, Opposition Camps 4 Members Of 'Band Baja Baraat' Gang Arrested From Delhi-Gurugram Border Man Caught On Camera Abusing Pet Dog In Greater Noida, Arrested Putin Hints At Strikes On West In "Global" Ukraine War Track Latest News Live on NDTV.com and get news updates from India and around the world.