India will continue to buy Russian oil as it is beneficial for the country, Foreign Minister Subrahmanyam Jaishankar said after a meeting with his Russian counterpart Sergei Lavrov.

"Our main responsibility is to provide the Indian consumer with the best possible access on the most favorable terms to international (oil and gas) markets," Jaishankar said. "In this context, we see the relationship between India and Russia working to our advantage. So if it benefits us, we will continue to do so."

The U.S. and its G7 allies intend to impose a price ceiling on Russian oil.

This week, U.S. Treasury Secretary Janet Yellen will visit India. Earlier, she said that India "would benefit from a cap on Russian oil prices," and the U.S. hopes that it will take advantage of it.