Russia refuses to give Pakistan 30-40pc discount on crude oil

Russia has refused to provide Pakistan with a 30-40 percent discount on Russian crude oil after the Pakistani delegation asked for a reduction in price during talks in Moscow. Earlier this week a Pakistani delegation asked for a discount on oil during talks in Moscow. According to Geo News, Pakistan's official delegation left for Moscow on November 29 on a three-day visit to talk with the Russian authorities to discuss the possibility of import of crude oil at a discounted price, mode of payment and shipment cost. According to Geo News citing industrial ministry sources, Russian crude oil can be processed in Pakistan's refineries, and in the past one private refinery had used Russian crude oil to deliver finished products. 

However, sources said that Russia can offer crude at the rates it is providing to its large client countries, which are reliable and sound economies, at a suitable time.Right now all volumes are committed with big buyers, they said. The Russian side asked Pakistan to first honour its commitment to the flagship project of the Pakistan Stream Gas Pipeline to be laid down from Karachi to Lahore, Punjab. Earlier, on November 13, Pakistan Finance Minister Ishaq Dar said that the United States cannot stop Pakistan from purchasing Russian oil and it will be possible to do so soon.