ISLAMABAD: The second cargo of discounted Russian crude oil arranged under a new deal struck between Islamabad and Moscow will arrive in the port city of Karachi today, Tuesday.
The first cargo arrived earlier on June 11, with 45,122 metric tonnes of crude oil, offering a relief to Pakistan, which is facing a payments crisis and is at risk of defaulting on its debt. Pakistan's purchase also 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.
“A second shipment of crude oil from Russia is scheduled to reach the Karachi port tomorrow (Tuesday),” Pakistan’s Samaa News reported.
Other local media outlets also widely reported the news, saying the vessel, named “Clyde Noble,” would be carrying 55,000 metric tonnes of crude oil.
Energy imports make up the majority of Pakistan's external payments.
Petroleum Minister Musadik Malik has not disclosed the commercial details of the Russian deal, including pricing or the discount that Pakistan received, but said the payment was made in Chinese currency.
