How much discount Pakistan has received on Russian crude oil? Russian Energy Minister Nikolai Shulginov has clarified that no exclusive discounts were given to Pakistan on crude oil imports under an agreement signed between Islamabad and Moscow in April this year.
The cargo carrying 45,000 metric tonnes of crude oil arrived in the southern city of Karachi on Sunday, with another 50,000 metric tonnes expected later this month.
Prime Minister Shehbaz Sharif said that it was discounted Russian crude oil. Taking to Twitter, he wrote: “Glad to announce that the first Russian discounted crude oil cargo has arrived in Karachi and will begin oil discharge tomorrow”.
“This is the first-ever Russian oil cargo to Pakistan and the beginning of a new relationship between Pakistan and the Russian Federation,” he added.
Minister of State for Petroleum Musadik Malik also confirmed that the oil was imported at discounted rates.
But, the statement given by the Russian minister said otherwise. Shulginov said there was no reduced pricing for Pakistan.
How much discount Pakistan has received on Russian crude oil?
“Oil deliveries to Pakistan have begun. There is no special discount; for Pakistan, it is the same as for other buyers,” Russian state media quoted the minister as telling reporters on the sidelines of an international economic conference in St. Petersburg.
His remarks have raised questions about claims being made by the Pakistani government.
“We agreed that the payment would be made in the currencies of friendly countries,” Shulginov said while responding to a question if Pakistan would pay in Chinese currency. He added that the issue of barter supplies was also discussed, “but no decision has been made yet.”
Must read: Pakistan receives first shipment of Russian Oil, Expanding trade relations
The Pakistani government permitted its public and commercial enterprises to engage in barter commerce with numerous nations, including Russia and Iran, earlier this month in order to relieve strain on foreign exchange reserves.
The Russian energy minister also stated that Islamabad and Moscow have yet to execute an agreement for the sale of liquefied natural gas to Pakistan. “The discussion is about long-term contracts,” he said, “but so far, we’re talking about spot supplies, and spot petrol prices are now high.”
