Russia Offers Oil to India at Big Discount

Russia-India Oil Deal - Russia is offering Oil at a big discount to India on the Direct sale of oil. Russia wants India to take 15 million barrels contracted for this year just to begin with, they said, adding the talks are taking place at the government level. 

Russia has also offered rupee-ruble-denominated payments using Russia’s messaging system SPFS, which could make trading more attractive for India, they said. No final decision has been taken and the matter will probably be discussed when Russian Foreign Minister Sergei Lavrov arrives in India for a two-day visit Thursday.

Source- The Times of India