How much discount Pakistan has received on Russian crude oil?

Russian Energy Minister Nikolai Shulginov has confirmed that no preferential discounts on crude oil imports have been granted to Pakistan.

Pakistan has received its first cargo of Russian crude oil under an agreement inked in April this year between Islamabad and Moscow. A cargo containing 45,000 metric tonnes of crude oil landed in Karachi’s southern city on Sunday, with another 50,000 metric tonnes expected later this month.

Prime Minister Shehbaz Sharif stated that Russian crude oil was discounted. “Glad to announce that the first Russian discounted crude oil cargo has arrived in Karachi and will begin oil discharge tomorrow,” he wrote on Twitter.

“This is the first-ever Russian oil cargo to Pakistan, and it marks the beginning of a new relationship between Pakistan and the Russian Federation,” he continued.

Musadik Malik, Minister of State for Petroleum, also stated that the oil was imported at a reduced price.

However, the Russian minister’s statement stated otherwise. According to Shulginov, there is no reduced pricing for Pakistan.

“Oil shipments to Pakistan have begun.” “There is no special discount; it is the same for Pakistan as it is for other buyers,” Russian state media cited the minister as saying to reporters on the sidelines of an international business conference in St. Petersburg.

The Russian energy minister continued on to say that Islamabad and Moscow have yet to execute a deal for the shipment of liquefied natural gas to Pakistan. He remarked that “the discussion is about long-term contracts, but so far, we are talking about spot supplies, and spot petrol prices are now high.”

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