Pakistan Celebrates As First Discounted Oil Shipment Arrives

(AmericanProsperity.com) – Pakistan’s government welcomed on June 12 the arrival of a discounted crude oil shipment from Russia, following a key deal between Moscow and Islamabad. Pakistani Prime Minister Shahbaz Sharif said this arrival represented the “fulfillment of promises” to the country. Meanwhile, Information Minister Marriyun Aurangzeb said on his Twitter account this was a “true service” for all Pakistanis.

According to different reports the Russian cargo was unloaded in Karachi, which is known as one of the main hubs for imports in the region. The deal between the two nations came after numerous negotiations to buy Russian discounted crude from 2022. That year, Russian President Vladimir Putin met in Russia’s capital with former Pakistani Prime Minister Imran Khan.

That meeting was quite controversial as it coincided with the beginning of the Russia-Ukraine war. It also coincided with a delicate relationship between Pakistan and the United States, which many said was the main reason why Khan decided to meet with Putin.

Following that meeting, Russia has been grappling with numerous sanctions from Western governments because the Kremlin decided to invade Ukraine. This has forced Moscow to redirect most of its supply to China, India, and many other Asian nations at discounted prices. While many thought this would severely harm Russia, experts have been pointing out that the Kremlin has managed to survive and even dodge an economic crisis.

According to Geo News TV, Pakistani Deputy Oil Minister Musadiq Malik told the network that the government signed a deal for the purchase of 100,000 tons of oil. He explained this will arrive in two ships, but refused to give any detail about the size of the first cargo load. Additionally, Malik refused to share any detail about the price of this Russian oil or the way that the Pakistani government will pay Russia.

The Pakistani government is currently facing a severe economic crisis after massive floods that caused over $30 billion in damages.