The European Union will ban imports of the Russian oil product on which it relies for much of its diesel until February 5.
“(The) next trigger point is February 5. Unless something dramatic happens geopolitically…we are in a stable position,” Jain said.
Jain said that so far Indian companies are not facing any problem in the purchase of Russian oil.
The European Union, G7 countries and Australia introduced a $60 per barrel price cap on Russian oil, effective December 5, on top of an EU ban on Russian crude imports by sea.