Pakistan and Russia signed eight agreements on Wednesday aimed at enhancing trade and economic cooperation between the two countries.
The agreements were finalized during the 9th Intergovernmental Commission meeting held in Moscow. Federal Minister for Energy Owais Ahmed Leghari led the Pakistani delegation, emphasizing the growing collaboration between the two nations. In his remarks, Leghari stated, “Pakistan-Russia cooperation is progressing steadily, and these agreements will further strengthen our ties across various sectors.”
The signed agreements cover a wide range of initiatives, including industrial cooperation and the production of insulin. Additionally, a Memorandum of Understanding (MoU) was signed between New Tech, a Pakistani company, and a Russian university to promote academic and technological exchanges.
No Crude Oil Deal with Russia
Despite the progress in various areas, Federal Minister for Petroleum Dr. Musadik Masood Malik clarified that no agreement had been reached with Russia regarding the purchase of crude oil. Addressing the media in Islamabad, Malik dismissed reports of a deal, saying, “The news about crude oil agreements with Russia is baseless. No conclusion has been reached on this matter.”
Malik also provided updates on Pakistan’s LNG situation, noting a surplus of liquefied natural gas due to reduced demand from private-sector power plants. “We have postponed five LNG cargoes and are considering delaying five more due to reduced costs and surplus supply in the international market,” he explained.
Regarding the Iran-Pakistan gas pipeline project, Malik expressed Pakistan’s willingness to proceed if international sanctions on Iran were relaxed but refrained from discussing the issue further.
