India is considering taking up a Russian offer to buy its crude oil and other commodities at discounted prices with payment via a rupee-rouble transaction, two Indian officials said, according to Reuters.
The move comes amid tough Western sanctions on Russia over its invasion of Ukraine.
"Russia is offering oil and other commodities at a heavy discount. We will be happy to take that. We have some issues like tanker, insurance cover and oil blends to be resolved. Once we have that we will take the discount offer," one of the Indian government officials said, according to Reuters.
India imports 80 percent of its oil needs, and usually buys about 2 per to 3 percent of its supplies from Russia.
