Russia to Supply Energy at Market Prices Despite Sanctions, Deputy Minister Says

Russia to supply energy with mutually acceptable payment practices, Sorokin says

Russia’s Energy Exports and Payment Practices Amid Sanctions

By Sethuraman N R

Continued Energy Supply Despite Sanctions

NEW DELHI, March 19 (Reuters) - Russia will continue to supply energy at market prices without any consideration for Western sanctions and will offer mutually acceptable payment practices, Russian Deputy Energy Minister Pavel Sorokin told Reuters on Thursday.

Russia’s Position in the Global Energy Market

Russia, the world's second-largest oil exporter and the holder of the world's biggest natural gas reserves, has seen a rise in demand for its exports since the Iran war trapped a chunk of global oil production in the Gulf.

Cooperation with Indian Partners

"We are cooperating with our Indian partners and working on a mutually beneficial basis," Sorokin, speaking in English, told Reuters in New Delhi. "We believe that basically there should not be any sanction limits and every country should have a right to choose who it works with."

Payment Methods and LNG Purchasers

Payment Currencies and Practices

When asked if payments were being made in yuan or roubles, Sorokin said: "We're working with our partners through usually acceptable practices."

Readiness to Work with Global LNG Purchasers

He said Russia was ready to work with any purchaser of liquefied natural gas.

International Response and Market Stabilisation

US Waiver to Stabilise Energy Markets

Washington last week issued a 30-day waiver for countries to buy sanctioned Russian oil and petroleum products currently stranded at sea in a step to stabilise global energy markets roiled by the Iran war.

(Reporting by Sethuraman NR and Krishna N. Das, writing by Shanima A; Editing by YP Rajesh/Guy Faulconbridge and Louise Heavens)