India is trying to strike new crude-oil deals with Russia — but Russia's oil giant Rosneft doesn't have any extra oil left, report says

Russia's largest oil company doesn't seem to have a shortage of customers.

Russia's top oil producer is holding back on signing new contracts because it has already committed supplies to other buyers, according to three sources with knowledge of the matter.

One of the sources said that they don't have volumes. The source said that the company was notcommittal about new deals.

Despite sanctions and boycotts against the country over its invasion of Ukraine, demand for Russian oil is still high.

Russian oil was priced at steep discounts to move the supplies, and Indian refining companies have been buying it. According to Indian sources, Russian oil is no longer being sold at steep discounts. Russian crude is cheaper on the spot market than it is on long-term deals. Russia's oil has been snapped up by China. Both countries have not condemned Russia's actions.

According to the report, Russia has increased shipments by 20% out of the major port of Kozmino in the east of the country.

Despite international trade restrictions, Russia's energy sales are keeping the country afloat. According to a report last week, Moscow could still rake in hundreds of millions of dollars a day from oil and gas. The country's oil and gas takings are lower in 2021.

The state-owned company posted record profits in 2021, and plans to give out record dividends.