By John Wilson in Economy —

"Rosneft" failed to find buyers for 37 million barrels (about 5 million tons) of Urals oil with delivery in May and June.

"Rosneft" failed to find buyers for 37 million barrels (about 5 million tons) of Urals oil with delivery in May and June.
Photo by Zbynek Burival / Unsplash

The Russian company has not received any bids from European companies for the oil volume put on sale.

In its turn, Rosneft considered the bids from Asian oil companies too low. The refusal of European companies was due to the fact that Rosneft required an advance payment for oil in rubles. The Russian company was unable to sell a total of 6.5 million tons of Urals, Siberian Light, Sokol and ESPO Blend.