Following a recent meeting between Russian President Vladimir Putin and Pakistani Prime Minister Shehbaz Sharif on the fringes of the Shanghai Cooperation Organization (SCO) in Samarkand. A senior government official revealed on Sunday that Pakistan can import Russian oil on a deferred payment basis as both nations are in talks to discuss the possibility.
PM Shehbaz met with President Putin at least three times, according to an official who was a member of the prime minister’s entourage, spoke to The News Agency.
The official, who asked for anonymity due to the nature of the matter, claimed that just one was formal and the others were informal.
When questioned about statements made by the previous administration that a proposal for importing Russian oil at a reduced price was on the table, the official refuted them.
“What we have discussed during the recent interaction with the Russian side is the possibility of importing oil on deferred payment,” the official said.
The person stated that Russia has shown a desire to take the suggestion under consideration.
Given that Pakistan imports oil from Gulf nations and that Saudi Arabia and the UAE previously provided Pakistan with oil in exchange for delayed payments, the materialization of the proposal would be a historic move.
To read our blog “Banks of Pakistan declined to issue LCs for Russian crude oil imports,” click here.