ISLAMABAD: Significant progress has been made on the issue of purchase of crude oil from Russia.
The Ministry of Energy wrote a letter to the refineries to purchase oil from Russia and asked for suggestions.
The letter said that the oil refineries should send their suggestions to the government on this issue. What will be the quantity and method of payment of oil from Russia, what will be the transportation cost of importing oil? Wouldn’t buying oil from Russia affect agreements with Arab countries?
It should be noted that former Prime Minister Imran Khan said that his government wanted to buy cheap oil from Russia but the current government is not buying oil from Russia at a lower price due to US pressure.
India is one of the biggest beneficiaries of sanctions imposed on Russia over the Ukraine war. It is buying 600,000 barrels a day from Russia for just 30 $ a barrel, while the price of crude oil in the world market is currently more than 100 $ a barrel.