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"We are ready to supply whatever India wants to buy from Russia," Mr Lavrov told reporters after meeting with India's Foreign Minister S Jaishankar.
"If India wants to buy anything from us, we are ready to discuss and reach mutually acceptable cooperation," he said.
On the possibility of Prime Minister Narendra Modi as mediator in the Ukraine crisis, he said, "India is an important and serious country. If India plays that role that provides resolution, India as our common partner… we are for security guarantee of Ukraine… West has ignored its responsibility… India can support such process".
The Russian Foreign Minister arrived last evening amid intense international pressure and sanctions over the Ukraine war.
The high-level talks between the two foreign ministers took place amid indications that India could buy greater volumes of discounted Russian oil and both sides were keen on having a rouble-rupee arrangement for bilateral trade. Russia has been trying to move away from a dollar-based system.
Asked about India buying discounted oil from Russia hours before Mr Lavrov's visit, US Deputy National Security Adviser Daleep Singh warned that there would be consequences for countries actively attempting to "circumvent or backfill" the US sanctions against Moscow.
Washington, he said, would not like to see a "rapid" acceleration in India's import of energy and other commodities from Russia, he said after a series of meetings with Indian interlocutors.
Bloomberg has reported that Russia is offering India its flagship Urals grade at discounts of as much as $35 a barrel on prices before the war. Russia wants India to take 15 million barrels contracted for this year just to begin with, Bloomberg reported.
India has defended its decision to look for "good deals" for its energy requirement as oil prices go up. Foreign Minister S Jaishankar also said, "If you look at the major buyers of oil and gas from Russia, I think you will find most of them are in Europe".
India has not openly criticised Russia for its invasion of Ukraine and has taken a neutral position on the issue. While India abstained from voting at the UN on resolutions condemning Russia, it also abstained on a resolution pushed by Russia on the humanitarian crisis in Ukraine.
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