US Treasury Department's assistant secretary for terrorist financing and financial crimes, Elizabeth Rosenberg said, "India will have access to lower price of affordable energy (Russian Oil). It can leverage the price cap to negotiate a lower price with Russia. It is consistent with a price cap." 

 "We will not allow Russia to profit and get a war premium for invading Ukraine," the US official added. US officials informed reporters that while determining the price cap the G7 will factor in the cost of production and will give an economic incentive to Russia so that its oil keeps flowing into the markets. 

 This assurance comes as several countries are facing high inflation due to spiralling fuel prices -- ANI