Pakistan to receive first Russian oil shipment by next month, assures minister

The first-ever shipment of cheap oil from Russia would reach Pakistan by next month, announced Pakistan's Minister of State for Petroleum on Monday (April 3).

While speaking in an interview, the state minister said that Islamabad has finalised the deal with Russia, adding that the first shipment will reach next month through cargo. Also, the state minister assured that the people of Pakistan would benefit after the country will sell cheap oil to consumers.

Pakistan to receive the first shipment of Russian oil soon

The Pakistani minister further said that his government would introduce different tariffs for the poor and elite classes, as per Geo News report. The deal, which has been been a topic of discussion for months, could ease some of Pakistan's fiscal trouble as the country, a net importer of energy, looks for ways to cut its oil import bill. The Pakistani minister further said that the government had already made progress in this matter and was likely to issue separate bills for the underprivileged and elite classes, the outlet reported.

"However, it will take some time for the oil to reach Pakistan—nearly 26 to 27 days," he stated, adding that the commodity will arrive in the country via sea.

Earlier, it came to light that Pakistan's Petroleum Division was trying to get Russian crude oil for around $50 per barrel, at least USD 10 per barrel below the price cap imposed by the G7 countries on the precious commodity being taken from Russia due to the Ukraine war. It is significant to mention that since last year, talks have been ongoing between Pakistan and Russia over the trade of oil. Earlier, the former Pakistani Prime Minister Imran Khan had repeatedly claimed that his government was ousted for pursuing an "independent foreign policy", which would have helped the nation procure oil at a discounted price from Russia.

Image: ANI