Prime Minister Shehbaz Sharif announced that Pakistan is ready to receive a shipment of discounted Russian oil, stating that the oil is currently being loaded to arrive in the country.
Last week, Petroleum Minister Musadik Malik informed Reuters that Pakistan had made its first purchase of cut-price Russian crude.
This discounted purchase comes as a much-needed relief for cash-strapped Pakistan, which has been working to avoid a balance of payments crisis while waiting for an IMF deal.
Pakistan places first order for discounted Russian crude Oil
Pakistan has placed an order for the first shipment of discounted Russian crude oil.
The order will reach the port of Karachi in May.
According to the deal agreed between Moscow and Islamabad, Pakistan would only buy crude oil and not processed fuels.
Pakistan will import up to 100,000 barrels per day (bpd) if the initial transaction is successful.
With the redirection of oil from Western markets due to constraints, this agreement provides Russia with a new market to complement its expanding sales to China and India.
Vedant Patel told Islamabad that any assets or weapons left behind by the US following its exit from Afghanistan were no longer operational when asked about the potential of the Tehreek-i-Taliban Pakistan (TTP) gaining them.
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US Not Against Pakistan-Russia Oil Deal
A few days after Pakistan placed the order, the Biden administration said that it wouldn’t protest Pakistan’s discounted purchase of Russian oil.
Each nation has the freedom to determine its own energy supply policies, a US State Department official said to reporters in Washington when asked to comment on Pakistan’s choice.
