Peskov Denies Reports on Possible Oil Discounts

The spokesperson for the President of Russia, Dmitry Peskov, has denied media reports suggesting that Moscow is prepared to supply oil to India at lower prices if New Delhi does not support the G7 plans for setting a 'price cap' on Russian energy supplies. 'No, that information is not true,' Peskov said in response to a relevant question.

Earlier, the Business Standard reported, citing sources from India's Ministry of External Affairs, that Russia had offered India the opportunity to purchase oil at lower prices if New Delhi opposed the G7 initiative on maximum oil prices. It was noted that the alleged discounts on oil would be higher than those offered by Iraq in the last two months.

On September 7, U.S. Deputy Treasury Secretary Wally Adeyemo stated that India had not joined Western sanctions against Moscow, but he did not rule out that India might engage in efforts regarding the maximum price cap on Russian oil. Following his visit to India at the end of August, Adeyemo indicated that the Biden administration had urged India to join the efforts to limit Russian oil prices, noting that New Delhi had shown 'great interest' in the proposal.

At the same time, according to the Economic Times, citing sources, India would consider the possibility of supporting the U.S. proposal only if assurances were provided regarding supply from countries such as Venezuela and Iran, Interfax reported.