Bloomberg reported on the negotiations between Russia and India on the purchase of oil for rubles

Bloomberg: Russia offered India to buy Urals oil for rubles at a discount

According to Bloomberg sources, Russia offers to pay for oil in rubles, taking into account the discount, the price of Urals oil for India will be $35 per barrel. The volume of the first delivery is discussed at the level of 15 million barrels

Russia offered India a ‘big discount’ on Urals oil deliveries amid Western sanctions Bloomberg with reference to sources familiar with the discussion of the issue. Negotiations are being held at the governmental level, the interlocutors of the agency specified.

Russia offers India to increase purchases and purchase oil at $35 per barrel, taking into account the discount, the agency writes, noting that the parties are discussing the first batch, which could amount to 15 million barrels.

According to the agency’s sources, Russia proposes to pay for oil in rubles using the Financial Message Transmission System (the Russian analogue of SWIFT. – RBC). The parties are exploring the possibility of deliveries through the port in Vladivostok, from where oil can be delivered to Indian refineries in 20 days, the agency writes.

Rosneft and oil and gas company Indian Oil Corp. are expected to take part in the deal, sources said. The final decision on deliveries has not yet been made, this issue will probably be resolved during the visit of Russian Foreign Minister Sergei Lavrov to India, the agency’s interlocutors note.

Indian Oil did not respond to calls from the agency, the Indian Ministry of Energy declined to comment.