Voice News

Russia refuses to sell Pakistan cheap oil

cheap oil
cheap oil

Pakistan’s plan to acquire oil from Russia may be derailed since Russia does not appear prepared to trade oil under a price restriction devised by the United States (US). On November 28, a Pakistani group led by State Minister for Petroleum Dr. Musadik Malik, the petroleum secretary, and others traveled to Russia to discuss oil and gas commerce.

 Pakistan is debating four proposals, including crude oil imports, refined petroleum products imports, gas imports, and the North-South Pipeline Project. Pakistan intended to buy oil from Russia in accordance with the US price ceiling. According to sources, Russia is unwilling to deliver oil to Pakistan in response to a US-imposed oil price ceiling.

Another step is that Moscow intends to prepare a presidential order prohibiting Russian merchants and corporations from selling oil to nations that participate in the system to cap the price of Russian oil. In this case, Pakistan cannot trade oil with Russia if it is dependent on receiving a No Objection Certificate (NOC) from the US. An oil and gas trade agreement is being negotiated between Islamabad and Moscow at a time when energy projects between the two nations have been put on hold.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *