‘Pakistan stands with Russia,’ PM says as concert attack toll rises to 115

A police officer stands next to a makeshift memorial to the victims of a shooting attack at the Crocus City Hall concert venue in the Moscow Region, Russia, March 23, 2024. (REUTERS)
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Updated 23 March 2024
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‘Pakistan stands with Russia,’ PM says as concert attack toll rises to 115

  • Deadliest attack in Russia since the 2004 Beslan school siege
  • United States intelligence confirms Daesh’s claim of responsibility

ISLAMABAD: Prime Minister Shehbaz Sharif said on Saturday Pakistan stood with Russia after a shooting rampage killed 115 people at a concert hall near Moscow on Friday.

Russia has said it has arrested 11 people including four suspected gunmen in connection with the attack for which Daesh has claimed responsibility.

In the deadliest attack in Russia since the 2004 Beslan school siege, gunmen sprayed civilians with bullets just before Soviet-era rock group “Picnic” was to perform to a full house at the 6,200-seat the Crocus City Hall just west of the capital.

“I strongly condemn the heinous attack in Moscow last night that has resulted in the loss of many precious lives,” Sharif said on X. “My heartfelt condolences to families of the victims. Pakistan stands with Russia at this difficult time.”

The United States has intelligence confirming Daesh’s claim of responsibility for the shooting, a US official told Reuters on Friday night. The official said Washington had warned Moscow in recent weeks of the possibility of an attack.

“We did warn the Russians appropriately,” said the official, speaking on condition of anonymity, without providing any additional details.

The Kremlin said Russia’s FSB security service chief Alexander Bortnikov had reported to President Vladimir Putin that those detained included “four terrorists” and that the service was working to identify their accomplices.

Russian news agency Interfax quoted the FSB security service as saying the four suspected gunmen had been arrested while heading to the Ukrainian border, and that they had contacts in Ukraine. It said they were being transferred to Moscow.

Russia has not made public any evidence of a Ukrainian connection. Ukrainian presidential adviser Mykhailo Podolyak said on Friday that Kyiv had nothing to do with Friday’s attack.

The attack on Crocus City Hall, about 20 km (12 miles) from the Kremlin, comes just two weeks after the US embassy in Russia warned that “extremists” had imminent plans for an attack in Moscow. Hours before the embassy warning, the Federal Security Service of the Russian Federation said it had foiled an attack on a Moscow synagogue by Daesh’s affiliate in Afghanistan, known as Daesh-Khorasan or Daesh-K, which seeks a caliphate across Afghanistan, Pakistan, Turkmenistan, Tajikistan, Uzbekistan and Iran.

Putin changed the course of the Syrian civil war by intervening in 2015, supporting President Bashar Assad against the opposition and Daesh.

In the 2004 Beslan school siege, militants took more than 1,000 people, including hundreds of children, hostage.

With inputs from Reuters


Pakistan stocks recover as oil supply fears ease after Islamabad seeks Red Sea route— analyst

Updated 05 March 2026
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Pakistan stocks recover as oil supply fears ease after Islamabad seeks Red Sea route— analyst

  • Pakistan has sought Saudi help to secure oil supplies via Red Sea port after Iran’s closure of Strait if Hormuz
  • Analyst says higher crude oil prices, expectations of IMF releasing next loan tranche also triggered bullish activity

ISLAMABAD: Pakistani stocks marked a sharp recovery when trading closed on Thursday, as institutional activity increased following Islamabad’s move to seek crude oil supplies through the Red Sea port eased oil supply fears, a financial analyst said. 

Pakistani stocks have recorded a sharp decline this week, with the benchmark KSE-100 index recording its largest-ever single-day decline on Monday when it plunged 16,089 points. Escalating conflict in the Middle East triggered panic selling at the Pakistani bourse, forcing a temporary trading halt on Monday. 

The KSE-100 index, however, gained 3.49 percent or 5,433.46 points to close at 161,210.67 when trading ended on Thursday, up from the previous close of 155,777.21 points, according to Pakistan Stock Exchange’s (PSX) data.

Pakistan’s Petroleum Minister Ali Pervaiz Malik met Saudi Ambassador Nawaf bin Said Al-Malki on Wednesday to discuss Iran’s closure of the key Strait of Hormuz, which has threatened Pakistan’s energy supply. Roughly 20 percent of the global oil and gas supply passes through the route. Saudi Arabia indicated it could facilitate shipments through the Red Sea port of Yanbu, offering an alternative route if Gulf shipping lanes remain disrupted, the petroleum ministry said on Wednesday. 

“Stocks staged a sharp recovery at PSX amid institutional activity on easing fuel supply fears after KSA [Kingdom of Saudi Arabia] commits oil supplies through the Red Sea port,” Ahsan Mehanti, chief executive officer at Arif Habib Commodities, told Arab News.

He said higher global crude oil prices and expectations of the International Monetary Fund releasing its next tranche of the $7 billion loan for Pakistan also helped bullish activity at the PSX.

An IMF mission was in Pakistan to hold talks on the third review of a $7 billion Extended Fund Facility multi-year program, and for the second review of the $1.4 billion Resilience and Sustainability Facility this week.

However, the delegation left for Türkiye amid tensions in the Gulf. Pakistani officials have said talks are likely to continue virtually in the coming days. 

Pakistani brokerage Topline Securities said in its daily market review report that strong institutional buying “turned the tide” on Thursday after the market’s recent overreaction to regional issues.

The report added that Hub Power Company (HUBC), Oil & Gas Development Company (OGDC), Fauji Fertilizer Company (FFC), Engro Corporation (ENGROH), and Meezan Bank Limited (MEBL) collectively contributed 2,197 points to the KSE benchmark’s gain.

Topline Securities said 723 million shares were traded on Thursday, with K-Electric Limited (KEL) stealing the spotlight as more than 1.17 billion shares changed hands.

Pakistani investors are closely monitoring developments in the Gulf, particularly around energy routes and further retaliatory actions, as the conflict’s trajectory remains uncertain.