Luxury

Pakistan fails to get discount on crude oil from Moscow

pakistan-fails-to-get-discount-on-crude-oil-from-moscow

A media report on Thursday stated that a Pakistani delegation failed to get its demand of a 30-40% discount on crude oil sanctioned from their Russian counterpart, as the latter refused any help and said that all volumes were committed.

The delegation, consisting of State Minister for Petroleum Musadik Malik, Secretary Petroleum Capt (retd) Muhammad Mahmood, joint secretary and Pakistan Embassy officials, had requested for a discount on crude oil during their meeting in Moscow on Wednesday.

yH5BAEAAAAALAAAAAABAAEAAAIBRAA7

Also read | China eases Covid restrictions in Beijing, hints at possible change in stance

The reports stated that the talks failed to reach a conclusion but the Russian delegation said that it will consider the demands of Pakistan in future and relay its decision through diplomatic channels.

Pakistan was further asked by the Russian delegation to first fulfil its commitment towards the Russian proposed Pakistan Stream Gas Pipeline (PSGP), which will be constructed from Karachi to Lahore.

yH5BAEAAAAALAAAAAABAAEAAAIBRAA7

Also read | Eurozone unemployment drops to record low as global headwinds slacken economy

On November 29, the official delegation of Pakistan left for Moscow’s three-day visit to hold talks with Russian authorities and discuss the import of crude oil at a discount, shipment cost and mode of payment.

The US had clearly stated that it has no objection if Pakistan imports Russian crude oil as currently, Washington has not issued any sanctions against Russian energy exports to other nations.

Before holding talks with Russia, Finance Minister Ishaq Dar had stated that the delegation would try to reach a potential import deal with the Russian oil authorities.

Leave a Reply