Russia to offer India crude oil at discounted prices

News: As per media sources, Russia had made an open offer to India to sell crude oil at a discounted price. However, several factors would decide the government’s final decision, referring to transport routes, payment channels, insurance costs for the shipments and adverse reaction from Western nations.

Views:The ministers also (Indian oil minister and Russia Deputy PM) discussed the possibility of increasing “mutually beneficial cooperation” mentioning, India’s interests in the Arctic LNG2 and Sakhalin 1 project, purchases of LNG from Gazprom, as well as Russian involvement in projects in India including production, processing, and distribution of oil, natural gas, and coking coal

Impact: Neutral