“With the assistance of Moscow, Pakistan will be able to overcome the current economic crisis.”
According to the Russian consul general, commercial transactions between the two countries can take place in their respective national currencies.
Dmitry Petrov, the general representative of Russia for political and economic issues, stated that through boosting bilateral trade between the two nations, Pakistan and Russia may work together to solve their respective economic crises.
During a conference at the Korangi Association of Trade and Industry (KATI) in Karachi, he delivered these remarks.
According to Petrov, there are several potential to expand bilateral trade between Pakistan and Russia, and problems like obstacles in financial transactions are being addressed in order to further economic relations.
The consul general emphasized that while the identical products were made at extremely high costs in Russia, they were produced in Pakistan at very inexpensive costs while meeting high international standards.
He stated that barter commerce might also be encouraged and that bilateral trading in local currency was viable between the two nations.
According to the Russian official, a contract has been signed for the supply of gas and gasoline to Pakistan, and its execution will shortly get underway.
After agreeing to purchase one cargo initially as a test case to close the “confidence deficit,” Pakistan is anticipating receiving its first oil shipment from Russia by the end of April.
Islamabad has already been offered 100,000 barrels of crude oil per day by Moscow.
If both countries sign a contract, Russia will overtake Saudi Arabia, which supplies roughly 100,000 barrels of crude oil daily, to become Pakistan’s second-largest crude oil supplier.
The Express Tribune was informed by sources that Russia has questioned Pakistan’s commitment to finalizing the oil contract. Hence, Russia had requested that Islamabad import “one oil cargo” as a test case during a recent meeting between the two nations.
