Do you know Pakistan is 35th largest crude oil importer?
Pakistan is the 35th largest importer of crude petroleum in the world and in 2020-2021 it imported crude oil worth $1.92 billion. The pressure will decrease. Pakistan could be one of the beneficiaries of the US decision to ‘keep Russian oil available’ in the market for low and middle income countries.
According to the report of the spokesperson of the US State Department, this relaxation should not be seen as a move towards relaxation of the sanctions imposed by the US due to the attack on Ukraine in February this year were imposed on Russia.
However, he was quick to point out that ‘other countries will have to make their own choices based on their own circumstances in terms of energy imports.
Earlier there were reports that the US had allowed Pakistan to get a short-term cut-rate deal for Russian crude oil’ but the mechanism by which it was obtained was not specified. Neither could there be any confirmation from the US government in this regard.
Speaking to The Asian Mirror, the spokesperson of the State Department said that in view of the fact that the United States is a strong energy producing country, it has decided to ban the import of oil, liquefied natural gas (LNG) and coal from Russia. Washington realized that other countries could not afford to do so.
The spokesman pointed out that while the US has imposed a ban on energy imports from Russia, the US Treasury Department has issued general licenses that allow energy transactions with approved entities to continue.
“Our discussions with allies and partners are aimed at limiting revenues from sales to Russia while making Russian oil available on global markets to buyers in low- and middle-income countries,” he said.
Do you know Pakistan is 35th largest crude oil importer?
To help stabilize prices that are nearly double their pre-pandemic levels. The spokesman also referred to the September 2 announcement by the G7 countries on a price cap for Russian oil, which he said was “a big step forward in advancing both of these goals.”
He said the move is aimed at banning the provision of services that allow the maritime transportation of such oil products until a coalition of countries implements and implements the price ceiling. Do not purchase at or below the price level determined by The State Department official said the coalition is now “moving from exploring a price cap to broadening our cooperation to implementing one.”
