Russia sets record discount on Urals oil in attempt to tempt Indian companies to buy - Reuters

The aggressor country russia has increased discounts on its Urals crude oil for sale to Indian refiners at a record high. Oil shipments in February were sold at the largest discount since 2022.

Reuters reported this, citing its own sources on Monday, January 26.

Two unnamed agency interlocutors said that in Indian ports, February deliveries of Urals were traded at maximum discounts compared to Brent crude oil.

According to them, the discount on February shipments of russian oil amounted to USD 10 per barrel, which is USD 3-5 per barrel higher than in the fall of 2025. The discount has also almost reached a historic level.

One of the interlocutors noted that the high discount could attract additional buyers represented by Indian refiners and help them place more barrels. At the same time, he said that companies are actively looking for an alternative to Urals amid US pressure on India.

As the Ukrainian News agency earlier reported, on January 5, US President Donald Trump allowed an increase in duties on goods from India if Indian oil refiners do not reduce imports of russian oil.

On January 12, Reuters reported that the Indian holding company Reliance Industries will negotiate with the United States to resume imports of Venezuelan oil.

The day before, it became known that Indian Oil Corporation purchased 7 million barrels of oil from suppliers outside russia at once.