KARACHI, Pakistan (AA) – Russia has agreed to provide oil to Pakistan at discounted rates to meet Islamabad’s rising domestic and industrial energy demands, a Pakistani minister claimed on Monday.
Addressing a presser in the capital Islamabad, State Minister for Petroleum Musadik Malik said Pakistan would purchase crude oil, petrol, and diesel from Russia at discounted rates.
A Pakistani delegation led by Malik visited Moscow last week to negotiate with Russian authorities.
Pakistan has been grappling with increasing energy requirements, mainly oil and gas, together with an inflating current account deficit because of oil payments.
Moscow, according to Malik, also invited Islamabad to begin talks on long-term liquefied natural gas contracts for 2025 and 2026.
A Russian inter-governmental delegation is scheduled to visit Pakistan in January next year to finalize the oil purchase contracts.
Pakistan will also import wheat from Russia despite the international sanctions on Russia that came with Moscow’s war on Kyiv.
Finance Minister Ishaq Dar told reporters in Islamabad on Monday that the country’s Economic Coordination Council has approved the import of 450,000 tons of wheat from Russia on a government-to-government basis to be effective in February and March next year.