Russia is ready to sell oil to "friendly countries" in "any price range," the country's energy minister said.
India and China have been buying cargoes of cheap Russian oil.
Russian energy minister Nikolai Shulginov said the country is ready to sell oil and oil products to "friendly countries" in "any price range," the Izvestia newspaper reported on Wednesday.
He told the outlet crude oil prices could reach $80 to $150 a barrel in principle, although Russia was more focussed on ensuring the functioning of the oil industry.
Shulginov didn't specify which "friendly countries" he was referring to, but India and China have been buying cargoes of cheap Russian oil.
India, the world's third-largest consumer of oil, purchased about 12 million barrels from Russia last year, making up only 2% of its total imports.
Meanwhile, China's large state oil refineries are not signing new Russian oil contracts, although smaller independent refiners are still buying Russian oil discreetly, Reuters report last week. »