ISLAMABAD: Pakistan and Russia will hold the fifth round of ‘Bilateral Political Consultations’ today, Tuesday, in Islamabad, the foreign office has said.
The meeting comes after Pakistan on June 12 welcomed the first cargo of discounted Russian crude oil arranged under a new deal struck between Islamabad and Moscow. Pakistan’s purchase gives Russia a new outlet, adding to Moscow’s growing sales to India and China, as it redirects oil from Western markets because of the Ukraine conflict.
For Pakistan, the discounted crude offers relief to the South Asian nation as it faces a payments crisis and is at risk of defaulting on its debt.
Energy imports make up the majority of Pakistan’s external payments. The country’s imports of crude are expected to reach 100,000 barrels per day after the first cargo arrives on Monday.
“The Russian delegation will be led by Deputy Foreign Minister Andrey Rudenko who will visit Islamabad on 20-21 June 2023. Foreign Secretary Dr. Asad Majeed Khan will lead the Pakistan delegation,” the foreign office said.
“The two sides will review the state of bilateral relations, identify areas of mutual interest for further cooperation, and exchange views on important regional and global developments.”
This year, Pakistan and Russia are commemorating the 75th anniversary of the establishment of diplomatic relations.
