PAKISTAN RUSSIA CRUDE OIL

Second shipment of discounted Russian crude oil arrives at Karachi port

epa10715541 Russian crude oil tanker ship Clyde Noble is seen berthed at the Karachi Port, Pakistan, 28 June 2023. Pakistan has received its second cargo of discounted Russian crude oil as part of a new deal between Islamabad and Moscow. The arrival of the oil shipment provides relief to Pakistan, which faces a payments crisis and potential debt default. It also gives Russia a new outlet for its oil, alongside its growing sales to India and China. Pakistan aims to meet 20 percent of its oil requirements from Russia, with the deal being 100,000 tons. The country currently meets only 16 percent of its oil requirement through indigenous sources. EPA/REHAN KHAN

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