ISLAMABAD: Pakistan plans to expand oil imports from Russia as the ongoing crisis surrounding the Strait of Hormuz continues disrupting global energy supplies and increasing fuel prices, according to Pakistan’s ambassador to Moscow.
Speaking to Russia’s state-owned TASS News Agency, Faisal Niaz Tirmizi said Pakistan has started exploring alternative energy sources because of growing uncertainty in Gulf oil shipments. He explained that Pakistan currently produces only around 10 percent of its energy requirements domestically, while the remaining demand depends heavily on imports from Gulf countries.
Pakistan Searches for Alternative Energy Routes
Tirmizi stated that the worsening situation around the Strait of Hormuz has created serious concerns for Pakistan and several other countries dependent on imported oil and gas. Consequently, Islamabad has intensified efforts to diversify energy supplies and reduce reliance on traditional Gulf routes.
The ambassador noted that Pakistan may eventually discuss alternative pipeline projects linking Central Asia and Russia to South Asia. Furthermore, he emphasized that Russia remains a major supplier of oil and energy resources, making it an important potential partner for Pakistan during the ongoing crisis.
According to Tirmizi, Islamabad is also considering broader regional connectivity projects involving roads, railways, pipelines, academic cooperation, and humanitarian exchanges throughout Eurasia.
Fuel Prices Continue Rising Across Pakistan
The Strait of Hormuz crisis intensified after Iran reportedly closed the key shipping route following joint military actions by the United States and Israel earlier this year. Although a Pakistan-mediated ceasefire later reduced tensions, disagreements over long-term peace arrangements and Hormuz-related blockades continue.
The disruption has significantly affected global oil supplies because nearly one-fifth of the world’s oil and liquefied natural gas shipments normally pass through the strategic waterway.
Meanwhile, Pakistan recently increased petrol and diesel prices by nearly Rs15 per litre each. Petrol prices rose from Rs399.86 to Rs414.78, while high-speed diesel prices increased from Rs399.58 to Rs414.58 per litre.
Authorities also raised petroleum levy rates substantially to maintain fiscal targets amid rising global energy pressures.
