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Russia has contacted several Asian countries to discuss possible long-term oil contracts at discounted prices as the United States continues to push a plan to cap Moscow’s oil prices, reported Bloomberg.
The preliminary discussions to offer some Asian buyers discounts of up to 30 percent may be a sign that Russia aims to block the Group of Seven discussions about carving out an exception for pending European Union (EU) sanctions on its oil. This plan will make it easier for third parties to purchase Russian crude oil at a low price.
Russia may also be attempting to secure replacement buyers for the oil it is currently selling to Europe, but a few countries, including Indonesia, have voiced their concerns about being hit by US sanctions.
