Pakistan is going to buy oil from Russia, ignoring the US sanctions. The two countries have agreed to resolve all complexities including transportation, insurance, payment and rolling of crude oil supply.

A Memorandum of Understanding (MoU) was signed between the officials of the two countries on Saturday. The final agreement will be in March. If everything goes well, Pakistan will start receiving oil in March itself, said Geo TV.

After signing the MoU, Russian Energy Minister Nikolay Shulginov said, “We have established a timeline for this agreement in our joint agreement.” It will be at the end of March.

Meanwhile, Pakistan’s Oil Minister Musadiq Malik said that Islamabad will not stop buying oil from Moscow due to the sanctions imposed by the US government on Russia due to the Ukraine war.

He said this in an interview given to the Russian media RT. Musadik Malik gave this interview on Friday.

Highlighting the position of Pakistan in the interview, Musadiq said that the Pakistani government will start buying Russian oil from next March. Before this, the government commission of Pakistan and Russia will meet.

Musadik Malik also said, “In the meantime, different countries of the world have started buying Russian oil in various ways. These countries are benefiting and there is no concern about the possibility of any backlash. In that case, I don’t see any problem in Pakistan’s oil import from Russia; It will not break any laws or regulations. We’re not going to do anything that’s completely new, that nobody in the world has done.” At this time, he mentioned the oil import of European countries from Russia.

Pakistan’s minister said, “Europe is buying energy from Russia and if you compare the potential energy imports of Pakistan with Europe, you will see that Islamabad can buy little oil compared to them.”

(22 January/ES)