Pakistan receives discounted Russian crude in first shipment.

1 min read
Source: Al Jazeera English
Pakistan receives discounted Russian crude in first shipment.
Photo: Al Jazeera English
TL;DR Summary

Pakistan has received its first shipment of Russian crude oil under a discount deal signed in April. The cargo carrying 45,000 metric tonnes of crude oil arrived at the southern city of Karachi on Sunday while another 50,000 metric tonnes is expected to arrive later this week. The deal is expected to provide a new oil market for Russia after India and China as the Ukraine conflict rages on. Pakistan is reeling under a severe economic crisis, resulting in a shortage of foreign currency to pay for fuel imports. However, experts believe it will be too soon to say if the deal will provide significant benefit to domestic consumers.

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