Pakistan to import Russian oil on deferred payments

ISLAMABAD: Pakistan can import oil from Russia about late payments as both countries are in talks to discuss the possibility, a senior government official revealed on Sunday following a recent meeting between the Prime Minister Shehbaz Sharif and the President of Russia Vladimir Putin on the sidelines of the Shanghai Cooperation Organization (SCO) in Samarkand.
“What we discussed in our recent interaction with the Russian side was the possibility of deferred oil imports,” the official said, adding that Russia had shown interest in the proposal, the Express Tribune reported. believe.
Former Prime Minister Imran Khan has repeatedly accused the US of being behind his ouster 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 did not give any hints that Moscow was unwilling to work with the new government often labeled as an American “puppet” by Imran and his supporters.
While the US and its allies have sanctioned Russian President Vladimir Putin for the war in Ukraine by sanctioning a range of Russian companies and oligarchs, and by placing others on a trade blacklist, Pakistan is consider importing Russian oil.
Pakistan’s monthly fuel oil imports will hit a four-year high in June. According to Refinitiv estimates, the country’s fuel oil imports could rise to around 700,000 tonnes this month, after hitting a level 630,000 tonnes in May, according to Refinitiv estimates. Imports last peaked at 680,000 tonnes in May 2018 and 741,000 tonnes in June 2017.
Meanwhile, in June, the US blacklisted 36 companies, including those from China and Pakistan, for assisting Russia in the Ukraine conflict.
The administration of US President Joe Biden has added five companies in China to a trade blacklist for supporting Russia’s defense and military industrial base.
The agency also blacklisted 31 other entities from countries including Russia, UAE, Lithuania, Pakistan, Singapore, United Kingdom, Uzbekistan and Vietnam, according to the Federal Register. Of the total of 36 companies added, 25 have operations in China, Al Jazeera reported.

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