Pakistan will import oil from Russia from March

Pakistan will import oil from Russia from March

Islamabad, January 20 (Prensa Latina) Pakistan will start importing Russian oil from March, Minister of State for Oil Musadik Malik confirmed today.

After the conclusion of the annual intergovernmental commission between Pakistan and Russia, both sides agreed on the end of March as the deadline for the export of crude oil.

Malik revealed that Pakistan plans to import 35 percent of its total fuel needs from Russia, the Islamabad Post reported.

For his part, Minister of Energy Nikolay Shulginov, during his visit to the country, also stated that Pakistan will pay for energy purchases from Russia in currencies of friendly nations.

Last year, the Pakistani government sent officials to Russia, after which the oil minister said Moscow would sell the crude oil at a discount.

During the talks, it was agreed that after agreeing on the technical specifications, the oil and gas trading business would be structured in a way that is of mutual economic benefit.

The officials also agreed to strengthen energy cooperation, boost energy trade and expand energy infrastructure investments based on strategic and favorable business conditions.

Pakistan and Russia also agreed to further strengthen cooperation in the areas of trade and investment, energy, communications and transport, higher education, industry, railways, finance and banking, customs, agriculture, science and technology, and information technology.