February 25, 2024
PAKISTAN

Pakistan considers acquiring Russian oil with a payment plan

After the recent meeting between Prime Minister Shehbaz Sharif and Russian President Vladimir Putin on the sidelines of the Shanghai Cooperation Organization (SCO) in Samarkand, a senior government official revealed on Sunday that Pakistan can import oil from Russia on a deferred payment basis as both countries are in talks to discuss the possibility.

According to the source, who was a member of the prime minister’s entourage, PM Shehbaz met with President Putin at least three times. The official, who requested anonymity due to the delicate nature of the subject, continued, “One was formal and the rest were casual.

 

When questioned about whether there was a plan on the table for buying oil from Russia at a subsidized rate, the official refuted assertions made by the previous administration.” The prospect of importing oil on deferred payment is what we have addressed during the recent conversation with the Russian side,” the official said.

 

The person stated that Russia has shown a desire to take the suggestion under consideration.

 

Given that Pakistan imports oil from Gulf nations and that Saudi Arabia and the UAE previously provided Pakistan with oil in exchange for delayed payments, meterlization of the proposal would be a historic move.

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