Working with Pakistan to shape ‘multipolar world order,’ Russian foreign minister says

In this photograph, taken on January 30, 2023, Russian Foreign Minister Sergei Lavrov (R) and his Pakistani counterpart Bilawal Bhutto Zardari shake hands as they hold a joint press conference following their talks in Moscow. (AFP/File)
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Updated 13 June 2023
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Working with Pakistan to shape ‘multipolar world order,’ Russian foreign minister says

  • First cargo of discounted Russian crude oil under deal between Islamabad and Moscow arrived in Karachi on Sunday
  • Discounted crude offers relief to Pakistan, which is facing a payments crisis and is at risk of defaulting on its debt

ISLAMABAD: Russian Foreign Minister Sergey Lavrov has said Moscow was interested in “expanding cooperation” with Pakistan and wanted to work with Islamabad to shape a “more just and democratic multipolar world order.”

Lavrov made the remarks in a video message to Pakistan on Monday on the occasion of the 75th anniversary of diplomatic relations between the two countries and days after the first cargo of discounted Russian crude oil arranged under a deal struck between Islamabad and Moscow arrived in Karachi.

“Our relations are advanced and based on trust,” Lavrov said. “They are founded on the concurrence or proximity of approaches to the key issues of the international agenda. Together with our Pakistani partners, we stand for shaping a more just and democratic multipolar world order.”

“There have been different periods in our relations over the past three quarters of a century. However, Russia has always been interested in expanding cooperation with Pakistan, and under no circumstances has abandoned its commitments.”

Lavrov spoke about the participation of Soviet specialists in the construction of the largest steel mill in Karachi, now called Pakistan Steel Mills, in the 1980s, despite the conflict raging in Afghanistan at the time, as well as the Guddu Thermal Power Plant, then the largest in Pakistan, which was also commissioned then.

The Russian foreign minister said the two countries had also in recent years succeeded in making significant progress in bilateral trade.

“Russia has become a major supplier of wheat to Pakistan, with shipments exceeding one million tons last year,” Lavrov said.

“Negotiations on launching a cooperation project in the oil sector are at their final stage. Together with our Pakistani partners, we stand for shaping a more just and democratic multipolar world order. We respect the cultural and civilizational diversity of peoples and their right to determine the avenues of their political, social and economic development themselves.”

Lavrov said Moscow considered Pakistan a key international partner in joint efforts to combat common security challenges and threats, including transborder crime and terrorism.

On Sunday, Pakistan celebrated the first Russian discounted crude oil cargo arriving in Karachi, which Prime Minister Shehbaz Sharif described as the “beginning of a new relationship between Pakistan and Russian Federation.”




This handout photograph, taken and released by Karachi Port Trust, shows a Russian ship, Pure Point, anchored at the OP2 in Karachi on June 11, 2023, carrying 45,000 metric tons of crude oil. (Photo courtesy: KPT)

The discounted crude offers relief to Pakistan, which is facing a payments crisis and is at risk of defaulting on its debt.

Pakistan's purchase also gives Moscow a new outlet to add to growing sales to India and China, as it redirects oil from Western markets because of the Ukraine conflict.

Despite being a long-standing Western ally and the arch-rival of neighbouring India, which historically is closer to Moscow, analysts say the crude deal presents a new avenue for Pakistan at a time when its financing needs are great.

Islamabad earlier this month also outlined a process to open barter trade with Russia, Afghanistan and Iran, another sign of the South Asian economy seeking avenues to buy and sell commodities without trading in dollars, which analysts say could be a shift from West to East.


Pakistan remittances seen surpassing $40 billion in FY26 as Saudi Arabia leads November inflows

Updated 47 min 3 sec ago
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Pakistan remittances seen surpassing $40 billion in FY26 as Saudi Arabia leads November inflows

  • The country’s November remittances rose 9.4 percent year-on-year to $3.2 billion, official data show
  • Economic experts say rupee stability and higher use of formal channels are driving the upward trend

ISLAMABAD: Pakistan’s workers’ remittances are expected to exceed the $40 billion mark in the current fiscal year, economic experts said Tuesday, after the country recorded an inflow of $3.2 billion in November, with Saudi Arabia once again emerging as the biggest contributor.

Remittances are a key pillar of Pakistan’s external finances, providing hard currency that supports household consumption, helps narrow the current-account gap and bolsters foreign-exchange reserves. The steady pipeline from Gulf economies, led by Saudi Arabia and the United Arab Emirates, has remained crucial for Pakistan’s balance of payments.

A government statement said monthly remittances in November stood at $3.2 billion, reflecting a 9.4 percent year-on-year increase.

“The growth in remittances means the full-year figure is expected to cross the $40 billion target in fiscal year 2026,” Sana Tawfik, head of research at Arif Habib Limited, told Arab News over the phone.

“There are a couple of factors behind the rise in remittances,” she said. “One of them is the stability of the rupee. In addition, the country is receiving more inflows through formal channels.”

Tawfik said the trend was positive for the current account and expected inflows to remain strong in the second half of the fiscal year, noting that both Muslim festivals of Eid fall in that period, when overseas Pakistanis traditionally send additional money home for family expenses and celebrations.

The official statement said cumulative remittances reached $16.1 billion during July–November, up 9.3 percent from $14.8 billion in the same period last year.

It added that November inflows were mainly sourced from Saudi Arabia ($753 million), the United Arab Emirates ($675 million), the United Kingdom ($481.1 million) and the United States ($277.1 million).

“UAE remittances have regained momentum in recent months, with their share at 21 percent in November 2025 from a low of 18 percent in FY24,” said Muhammad Waqas Ghani, head of research at JS Global Capital Limited. “Dubai in particular has seen a steady pick-up, reflecting improved inflows from Pakistani expatriates owing to some relaxation in emigration policies.”