Sunday, October 2, 2022
HomeIndiaRussia offers India huge oil discounts amid global sanctions: Report

Russia offers India huge oil discounts amid global sanctions: Report

Russia offered India to sell crude oil at a discount of $ 35.

new Delhi:

Ukraine Russia, which has been facing international pressure and sanctions since the attack, is offering huge discounts on the direct sale of oil to India. According to the report, Russia wants India to take 15 million barrels contracted for this year. Now talks are going on at the government level. bloomberg According to the news published by quoting Russia, Russia has offered to sell crude oil to India at a discount of $ 35 per barrel against the prices in the current international market. Which is being considered by the Government of India.


Russia’s Rosneft PJSC and the Asian country’s largest processor Indian Oil Corp are expected to participate in the agreement to give oil at a discount. Since the attack on Ukraine, many countries of America and Europe are not buying oil from Russia. In such a situation, only the countries of Asia are buying oil from Russia. In which India and China are the major buyers.

According to experts in the matter, Russia has also offered rupee-ruble-denominated payments using its country’s messaging system SPFS, which can make business more attractive to India. However, no final decision has been taken yet and the matter will probably be discussed during the two-day visit of Russian Foreign Minister Sergei Lavrov to India on Thursday.

At the same time, when the representatives of Indian Oil were questioned on this matter, they did not comment and the Oil Ministry of India also refused to comment.

Vandana Hari, founder of Wanda Insights, an oil market analysis in Singapore, said that “for many years India has been buying little oil from Russia. For many years there has been very little”. has not been configured for.

VIDEO: Price hiked for the ninth time in 10 days, petrol and diesel prices out of control

Recent posts