Discounted by $35 below the spot rate was the figure I saw, which means at the moment a price of around $55 Us per barrel.Do you mean discounted by $35 or selling them $35 per barrel? If so they are losing 20 to 25 per barrel, they would be better off just destroy those oil rig than keep pumping.
They will most definitely flare them before they sell them cheap to India and China, which they are already doing it for the gas, Russia would need to at least break even, if they took loss, they would better off just burn it.
I knew Russia was flaring off natural gas, but I didn't know it could be done with oil too. I'm curious about this now, think I'll do some reading on it.