Pakistan asks Russia for steep 40% discount on crude oil; latter denies request: Report
Pakistan was denied a 30-40 percent discount on Russian crude oil by negotiating officials on Thursday during the bilateral talks in Moscow.
Pakistan was denied a 30-40 percent discount on crude oil by Russia on Thursday during the bilateral talks in Moscow, reported The News International reported. Pakistan’s State Minister for Petroleum, Musadik Malik, joint secretary, and officials of the Pakistan Embassy in Moscow were part of the talks. Pakistani delegation asked for a reduction in the price of crude oil on November 30 and was refused the next day by Russian officials.
While refusing Pakistan, Russia said that it could not offer anything as all volumes were committed and asked to honour its commitment toward the flagship project of the Pakistan Stream Gas Pipeline which is to be mapped from Karachi to Lahore, Punjab.
Further, Moscow promised to consider Islamabad’s demand and would share its final decision later through diplomatic channels, reported The News International. According to some sources, Russia can offer crude oil at the rates that have been provided to specifically large client countries that are known for their reliability and have sound economies, reported ANI.
Russia refuses discount on crude oil
The refusal comes after Pakistan Finance Minister Ishaq Dar said that the US cannot stop Islamabad from Purchasing Russian oil and which is going to happen soon, on November 13, reported ANI. He made these statements while addressing the meeting of the Pakistan Muslim League – Nawaz (PML-N) workers in Dubai, reported a local newspaper The Express Tribune.
Last month, during his US visit, Dar also had a meeting with the US Department officials where the matter of purchasing oil from Russia was discussed. The Pakistani minister assured that the ministry will purchase oil from Russia and that the Islamabad government will be taking very important steps in this regard.
Unfortunately, Pakistan had to face refusal from Russian officials in the recent talks with Russia. Pakistan’s official delegation left for a three-day visit to Moscow on November 29 and had planned to discuss the possibilities of importing crude oil at a discounted price, its mode of payment, and the shipment cost, Geo News reported.
