The Pakistani government has reached an agreement with Moscow to import Russian oil at a discount to cover up to one-third of its energy needs.
The deal was unveiled Friday after three days of consultations, and comes against the backdrop of economic instability in Pakistan, a country touched by the pandemic and floods in the second half of 2022, which left more than a thousand dead and significant material damage.
On the other hand, the agreement reached with Pakistan benefits the Kremlin, just when it needs to replace with new clients the consumption of crude oil previously made by the West due to the effect of the sanctions imposed by the war in Ukraine.
«It seems to be a win-win situation for both countries,» explains Irfan Shehzad, an analyst at the Eurasia Century Institute.
However, he adds, Pakistan risks alienating its «Western allies and other trading partners, who might feel uncomfortable.»
Oil could arrive in Pakistan as early as March, Pakistan’s energy minister, Musadik Malik, has said.
Moscow assures that Pakistan will pay for the supply with currencies from «friendly» countries.
Source: (EUROPA PRESS)
