Pakistan to import Russian oil with payment deferred – Times of India


ISLAMABAD: Pakistan can import oil from Russia on deferred payment as both countries are in talks to discuss the possibility, a senior government official revealed Sunday after a recent meeting between prime minister shehbazo Sharif and Russian President Vladimir Putin on the sidelines of the Shanghai Cooperation Organization (SCO) in Samarkand.
“What we discussed during the recent interaction with the Russian side is the possibility of importing oil on a deferred payment basis,” the official said, adding that Russia has expressed interest in considering the proposal, The Express Tribune reported.
Former Prime Minister Imran Khan has repeatedly accused the US of backing his impeachment in April. Imran said he was punished for pursuing an “independent foreign policy,” particularly for his efforts to deepen ties with Russia. The US has always denied interfering in Pakistan’s internal affairs.
According to The Express Tribune, the transcript was released by the Russian side after the meeting between Shehbaz and Putin dropped no hint that Moscow was unwilling to cooperate with the new government often labeled by Imran and his supporters as the “puppet” of the US.
As the United States, along with allies, seek to punish Russian President Vladimir Putin for the war on Ukraine by punishing a range of Russian companies and oligarchs and adding others to a blacklist for trade, Pakistan is considering importing Russian oil.
Pakistan’s monthly fuel oil imports will hit a four-year high in June. Refinitiv estimates that fuel oil imports could rise to around 700,000 tons this month, after 630,000 tons in May. Imports last peaked at 680,000 tons in May 2018 and 741,000 tons in June 2017.
Meanwhile, in June, the US blacklisted 36 companies, including those from China and Pakistan, for supporting Russia in the conflict in Ukraine.
The administration of US President Joe Biden has added five companies in China to a blacklist for trade in support of Russia’s military and defense industrial base.
The agency has also added 31 more entities to the blacklist from countries such as Russia, UAE, Lithuania, Pakistan, Singapore, United Kingdom, Uzbekistan and Vietnam, according to the Federal Register entry. Of the 36 companies added, 25 were active in China, Al Jazeera reported.

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