https://sputniknews.in/20230703/pakistan-foreign-minister-reiterates-call-to-have-strong-ties-with-russia-2800906.html
Pakistan Foreign Minister Reiterates Call to Have Strong Ties With Russia
Pakistan Foreign Minister Reiterates Call to Have Strong Ties With Russia
Sputnik India
Relations between Islamabad and Moscow have witnessed an uptick in recent months, with the former acquiring crude from the latter for its domestic needs.
2023-07-03T14:35+0530
2023-07-03T14:35+0530
2023-07-03T14:35+0530
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Pakistan Foreign Minister Bilawal Zardari Bhutto has reiterated calls to have stronger relations with Russia, Japanese broadcaster NHK reported on Monday.For nearly a year, Pakistan has faced a serious economic crisis with foreign reserves plummeting below the $3 billion mark at one point in time. It appeared like the Islamic country would suffer a sovereign default like neighboring Sri Lanka. But it managed to survive with assistance from friendly nations like China, UAE, and Saudi Arabia.Last week, Islamabad inked a deal with the International Monetary Fund (IMF), securing a $3 billion financial bailout package from the global lender.This came after talks between the IMF and the Pakistani government remained stalled for months, with the loan program nearing its expiry date. However, the two sides finally reached an agreement in the nick of time, with the multilateral organization announcing that it had in principle agreed to offer $3 billion to Pakistan. Pakistan and Russia Keen to Boost TiesPakistan is trying to ease its dependency on oil from the Middle East, instead focusing on procuring oil from Russia to fulfill its energy requirements.The South Asian country and the Eurasian nation signed an agreement regarding oil supplies in January. Subsequently, Pakistan placed its first order of Russian oil in April with the shipment reaching the port city of Karachi in June.In this light, Bilawal pointed out that Russian oil to Pakistan was important to meet the fuel requirements of the country. This isn't the first time Bilawal has spoken about having strong diplomatic relations with Russia. In June, he had told a foreign media outlet that Islamabad wanted "deep meaningful ties" with Moscow.Islamabad plans to import at least 35 percent of its crude requirements from Moscow.
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Pakistan Foreign Minister Reiterates Call to Have Strong Ties With Russia
Relations between Islamabad and Moscow have witnessed an uptick in recent months, with the former acquiring crude from the latter for its domestic needs.
Pakistan Foreign Minister Bilawal Zardari Bhutto has reiterated calls to have stronger relations with Russia, Japanese broadcaster NHK reported on Monday.
"Pakistan-Russia relations are on a positive trajectory and I'm hoping they go from strength to strength," Bilawal, who is on an official visit to Tokyo, told the Japanese news channel.
For nearly a year, Pakistan has faced a serious economic crisis with foreign reserves plummeting below the $3 billion mark at one point in time.
It appeared like the Islamic country would suffer a sovereign default like neighboring Sri Lanka. But it managed to survive with assistance from friendly nations like China, UAE, and Saudi Arabia.
Last week, Islamabad inked a deal with the International Monetary Fund (IMF), securing a $3 billion financial bailout package from the global lender.
This came after talks between the IMF and the Pakistani government remained stalled for months, with the loan program nearing its expiry date.
However, the two sides finally reached an agreement in the nick of time, with the multilateral organization announcing that it had in principle agreed to
offer $3 billion to Pakistan.
Pakistan and Russia Keen to Boost Ties
Pakistan is trying to ease its dependency on oil from the Middle East, instead focusing on procuring oil from Russia to fulfill its energy requirements.
The South Asian country and the Eurasian nation signed an agreement regarding oil supplies in January.
Subsequently, Pakistan placed its first order of Russian oil in April with the shipment reaching the port city of Karachi in June.
In this light, Bilawal pointed out that Russian oil to Pakistan was important to meet the fuel requirements of the country.
"I don't think our goal is to shift our imports from anyone to anyone else. Our goal is to meet the energy needs of our people," Pakistan's top diplomat stressed.
This isn't the first time Bilawal has spoken about having strong diplomatic relations with Russia. In June, he had told a foreign media outlet that Islamabad wanted "deep meaningful ties" with Moscow.
Islamabad plans to import at least 35 percent of its crude requirements from Moscow.
