JPMorgan Chase Chairman and CEO Jamie Dimon said the US should not penalize India and global oil markets over Russian oil while attempting to pressure Moscow to end the war in Ukraine.
Speaking in Mumbai on Tuesday, Dimon noted that refineries are often built for specific oil grades, meaning they cannot easily switch suppliers if markets are disrupted.
The comments follow a US sanctions bill signed by President Donald Trump that allows tariffs of up to 100 percent on top buyers of Russian oil and gas, including India.