Russia offers huge discount on oil to India; Will India accept USD 35 per barrel discount?

New Delhi : Russia and India have been strategic allies for a long time and at a time when western nations have been putting sanctions on Russia, the nation is offering huge discount on its oil barrels to keep the economy thrive.

According to a news report, Russia is offering a discount of up to USD 35 per barrel. This is huge and can drastically bring down the petrol and diesel prices in the nation.

However, there is no official word on this and it is expected that the offer will be discussed when the Russia Foreign Minister will visit India in coming days. Foreign Minister Sergei Lavrov arrives in India for a two-day visit Thursday.

The United States and many other western nations have imposed sanctions on Russia over its invasion in Ukraine. SWIFT ban has also been induced to put Russia under economic pressure.

While there has been a lot of pressure from the West on India to take a hard stand against Russia, India has remained mostly neutral and on the softer side.

It must be noted that India is not among the top 10 oil importers from Russia; but the deal can be beneficial for the nation.