Report: India in talks with Moscow over purchase of Russian oil

NEW DELHI, Mar 15 (PRIME) -- India is in talks over purchase of oil from Russia, Petroleum and Natural Gas Minister Shri Hardeep S Puri said on Tuesday at a session of the Indian parliament’s upper chamber, New Indian Express newswire reported.

“We are currently in negotiations. There are several issues that we should consider, for instance, how much oil is available in Russia, or at new markets, or from new suppliers that may emerge on the market,” he said when asked to comment on media reports that Russia offered its oil and other raw materials to India with discounts and at prices nominated in the Russian ruble and the Indian rupee.

“There are also issues connected to insurance, freight, and many other moments including payment mechanisms,” he added.

India will consider all the possible options, Puri said, adding that he already had corresponding negotiations with the Russian authorities.

He also said that oil exports to India from Venezuela and Iran suffered from sanctions. The Indian companies should sign oil contracts with the two countries as soon as their oil returns to the market.

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