Pakistan Russia Oil Deal: India’s copy should not be overshadowed by Pakistan! Took cheap oil from Russia, now what sanctions will America impose? – pakistan to buy crude oil from russia like india and china may upset west us sanctions
[ad_1]
Islamabad has signed a new deal with Russia under which the first crude oil order has been placed and the cargo will dock at Karachi port in May, Pakistan’s Petroleum Minister Mussadiq Malik told Reuters. Malik said on Wednesday that Pakistan’s imports under the new deal with Moscow are expected to reach 100,000 barrels per day if the first transaction goes smoothly.
India and China buying Russian oil
Russia is now exporting oil to Asia, Africa and other Latin American countries instead of its traditional European buyers due to Western sanctions following the Ukraine war. The deal between Russia and Pakistan has come after months of long negotiations. Earlier this year Russian Energy Minister Nikolay Shulginov had visited Pakistan. India and China have become the biggest buyers of Russian oil since the Ukraine war, buying 1.9 million barrels a day, The Independent reported. It accounts for 90 percent of total oil exports.
Pakistan International Beggar: Pakistan is not a beggar, whom does the Finance Minister of Pakistan want to assure?
risk of US sanctions
Pakistan is also now making a significant beginning of bilateral cooperation in the field of energy trade with Russia, apart from Saudi Arabia and other Gulf countries. In Pakistan, not only the government but also the opposition is in favor of buying cheap oil from Russia. Former Pak PM Imran Khan has many times insisted on buying cheap oil from Russia citing the example of India. If analysts are to be believed, Pakistan may face US sanctions for buying cheap oil from Russia. The risk of US sanctions is bigger and more serious for Pakistan than for India joining the Quad with the US.
[ad_2]
Source link
