https://sputniknews.in/20230120/russia--pakistan-reach-conceptual-agreements-on-oil-supplies-576321.html
Russia & Pakistan Reach Conceptual Agreements on Oil Supplies
Russia & Pakistan Reach Conceptual Agreements on Oil Supplies
Sputnik India
ISLAMABAD (Sputnik) - Moscow and Islamabad have reached conceptual agreements on the supply of oil and oil products to Pakistan, Russian First Deputy Minister... 20.01.2023, Sputnik India
2023-01-20T14:27+0530
2023-01-20T14:27+0530
2023-01-20T17:05+0530
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"Conceptual agreements on the supply of oil and oil products to Pakistan have been reached," Mochalnikov said at a plenary session of the intergovernmental commission of the two countries.Russia's Energy Minister Nikolay Shulginov and Pakistani Prime Minister Shehbaz Sharif earlier held a meeting in Islamabad, during which the Russian minister noted that Pakistan is one of Russia's key partners in South Asia.The Russian minister believes his country and Pakistan have good prospects for cooperation in various sectors, including energy, industry, transport and agriculture.Price Cap on Russia OilWestern countries have been seeking ways to limit Russia's income from oil and gas exports, as well as their dependence on Russian fuel since the country launched a military operation in Ukraine on February 24, 2022.On December 5, Western oil sanctions came into force: the European Union stopped accepting Russian seaborne oil, while the G7 countries, Australia and the EU imposed a price cap for seaborne oil at $60 per barrel. Russia, in response, banned from February 1 of this year the supply of oil to foreign persons, if the contracts directly or indirectly provide for the use of the mechanism for setting a price cap.The main risks are the discount and the embargo on the supply of petroleum products and the price cap, so it is necessary to take all measures to ensure supplies to new markets, logistics, transportation, Russian Deputy Prime Minister said earlier this week.
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Russia & Pakistan Reach Conceptual Agreements on Oil Supplies
14:27 20.01.2023 (Updated: 17:05 20.01.2023) ISLAMABAD (Sputnik) - Moscow and Islamabad have reached conceptual agreements on the supply of oil and oil products to Pakistan, Russian First Deputy Minister of Energy Sergey Mochalnikov said on Friday.
"Conceptual agreements on the supply of oil and oil products to Pakistan have been reached," Mochalnikov said at a plenary session of the intergovernmental commission of the two countries.
Russia's Energy Minister Nikolay Shulginov and Pakistani Prime Minister Shehbaz Sharif earlier held a meeting in Islamabad, during which the Russian minister noted that Pakistan is one of
Russia's key partners in South Asia.The Russian minister believes his country and Pakistan have good prospects for cooperation in various sectors, including energy, industry, transport and agriculture.
All the details of oil and gas supplies will be approved by March 2023 based on mutual interests, according to a joint statement by Shulginov and Pakistani Economy Minister Ayaz Sadiq published on Friday.
Western countries have been seeking ways to limit Russia's income from oil and gas exports, as well as their dependence on Russian fuel since the country launched a military operation in Ukraine on February 24, 2022.
On December 5, Western oil sanctions came into force: the European Union stopped accepting Russian seaborne oil, while the G7 countries, Australia and the EU imposed a price cap for seaborne oil at $60 per barrel. Russia, in response, banned from February 1 of this year the supply of oil to foreign persons, if the contracts directly or indirectly provide for the use of the mechanism for setting a price cap.
The main risks are the discount and the embargo on the supply of petroleum products and the price cap, so it is necessary to take all measures to ensure supplies to new markets, logistics, transportation, Russian Deputy Prime Minister said earlier this week.
