Bloomberg: Russia has offered a discount on oil up to 30% on long-term contracts for Asian countries

Russia has approached several Asian countries by offering long-term oil contracts with up to 30% discounts, Bloomberg referring to an unnamed official. According to the source of the agency, the goal of the Russian Federation is to prevent the possible introduction of a price ceiling for its oil. This initiative discussed in June at the G7 summit.

The official, in an interview with Bloomberg, also spoke about the possible search for new buyers for Russian oil in exchange for European customers.

The Asian countries to which Russia could offer discounts are not disclosed. However, earlier, the Indonesian Minister of Tourism wrote on Instagram (owned by Meta, recognized as extremist and banned in the Russian Federation) about a message from Russia in which it offered to supply oil at a cost 30% lower than on the international market.

At the end of June, Western agencies wrote that the G7 countries could impose a price ceiling on Russian oil and gas in order to limit Russia’s revenues against the backdrop of rising oil prices on the world market. Members of the G7 noted the interest of Asian countries in the project for various reasons – to join the initiative or to reduce the price of Russian oil. Press Secretary Dmitry Peskov declaredthat the introduction of marginal prices is “a subject of negotiations”, it must be considered from the legal side.

Russian energy supplies were banned by Washington, Ottawa and London. The European Union will give up oil within six months, according to the sixth package of EU sanctions.

Read more about the situation in the material “Kommersant FM” “Oil Feeling the Ceiling”.

Polina Sobakina