Sunday, February 5, 2023

‘Pakistan will not face US sanctions on procuring oil from Russia’


ISLAMABAD: State Minister for Petroleum Musadik Malik has asserted that Pakistan will not face any United States (US) sanctions on procuring oil from Russia, ARY News reported on Tuesday.

Talking to journalists in Islamabad, the state minister noted that several European countries have procured oil from Russia recently and did not face any sanctions from the United States (US).

Musadik Malik further said that the incumbent government was discussing the purchase of oil and gas with Russia and hopefully, all details of the deals will be made public by January 20.

Speaking of Pakistan Tehreek-e-Insaf’s (PTI) claims of importing oil from Russia, the party was only making tall claims as the minutes of their talks for cheap oil are nowhere to be found.

The petroleum minister claimed that when he asked Ambassador of Russia about the previous government’s regarding oil pact, the official said the previous government only talked to them about the gas pipeline.

He claimed that the minutes of their meetings with Moscow officials can prove their claims. In response to a question, Malik said that government was not deliberating on imposing any economic emergency, reiterating that the country would not default.

A day earlier, Musadik Malik announced that Russia will provide petrol and diesel to Pakistan at discounted rates. “Russian visit remained more successful than we were expecting,” Malik said while addressing a press conference in Islamabad.

The minister said Russia will export crude oil to Pakistan and diesel and petrol at discounted rates, which is good news for the country’s economy. “Russia will give the same discount to Pakistan as it is giving to the world on oil and petrol.”

Linking the development with addressing the energy needs, he said the incumbent government is trying to fix the ill economy due to the ‘wrong’ policies of the PTI government.

The minister also revealed that they also held talks with the gas companies in Moscow for LNG export to Pakistan.

Read more: High-power delegation to visit Russia to acquire oil, gas: NA informed

Russia has invited Pakistan for finalization the agreement for 2025-26, he added. The agreement for the import of oil at a cheap price will help Pakistan save dollars and tackle skyrocketing fuel prices.


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