Russia Refused to Offer Discount on Crude Oil Supplies to Pakistan

The Russian side urged Pakistan to honour its commitment to develop the Karachi to Lahore Pakistan Stream Gas Pipeline (PSGP).

SEATTLE (Oil Monster): Russia has turned down Pakistan’s request to offer discount of up to 40% on crude oil supplied to it. This was clarified during talks held between the Pakistani delegation and Russian officials in Moscow. The Pakistan delegation comprised of State Minister for Petroleum Musadik Malik, joint secretary and other senior officials.

According to reports by The News International, the Russian officials informed Pakistan that it is not in a position to make any offer at the moment, as all volumes were already committed with big buyers. However, the demand would be considered at a later stage and any decision on the matter would be conveyed through diplomatic channels.

The Russian side urged Pakistan to honour its commitment to develop the Karachi to Lahore Pakistan Stream Gas Pipeline (PSGP).

During his visit to the U.S. last month, Ishaq Dar, Pakistan’s Finance Minister had discussed matters relating to the country’s oil purchases from Russia. The U.S. had made it clear that it had no objections in Pakistan importing crude from Russia.

The other countries in the region have been boosting purchases of Russian crude. It must be noted that India has turned out to be a major importer of Russian crude oil during recent months. Also, China has been a traditionally strong importer of Russian oil and gas.