Rosneft “followed in the footsteps” of President Vladimir Putin’s orders to Gazprom and demanded 100% prepayment and conversion of payment into rubles for oil.
Russia’s state -owned company Rosneft was unable to sell 6.5 million tonnes of oil in a large -scale tender, as it required full prepayment in rubles. Reuters reported this with reference to five traders on Monday, April 25th.
It is indicated that Rosneft has “followed in the footsteps” of President Vladimir Putin’s orders to Gazprom and demanded 100% prepayment and conversion of payment into rubles for the purchase of oil.
“The failure of the tender highlights the Kremlin’s problems in selling oil due to the West’s harsh sanctions against Russia for the invasion of Ukraine … Rosneft put 6.5 million tons of Urals, Siberian Light, Sokol and ESPO Blend oil, but no bids were submitted until Monday, ” – said the message.
A source at an Asian trading firm said some of the oil offered could be sold under private agreements.
Another source familiar with the Rosneft tender said that the main purpose of the tender was to “express the market to demand payment in rubles”, which was achieved.
Recall that in March Russia’s oil exports dropped by a quarter. Russia has struggled to sell its oil following the U.S. embargo and tacit boycott in response to the war in Ukraine. According to media reports, today approximately 70% of Russia’s oil supplied for export finds consumers struggling.
Big traders reduce buying Russian oil – Reuters
News from Athletistic in the Telegram. Subscribe to our channel Athletistic
Source: korrespondent
