Pakistan is actively pursuing a new oil-sector agreement with Russia as energy ministries from both countries continue high-level discussions aimed at strengthening cooperation in energy and industrial development.
Finance Minister Muhammad Aurangzeb confirmed that Pakistan is keen to work closely with Russia in key areas such as oil exploration, production, refining, and energy infrastructure. Speaking to Russia’s RIA news agency, Aurangzeb said Pakistan would welcome an agreement if Russia agrees to collaborate in these sectors, which are considered Moscow’s major strengths.
According to the finance minister, talks are currently underway between the energy ministries of Pakistan and Russia, focusing on long-term cooperation rather than short-term transactions. These discussions reflect Islamabad’s broader strategy to diversify its energy suppliers and reduce the burden of high import costs.
Russia has also shown interest in expanding its footprint in Pakistan’s energy sector. In November, Russian Energy Minister Sergei Tsivilev revealed that Russian companies had discussed plans to upgrade an existing oil refinery in Pakistan, signaling deeper technical and investment-based collaboration between the two countries.
Pakistan has steadily increased engagement with Russia in recent years, particularly after Moscow began searching for new energy markets following Western sanctions imposed over the Ukraine conflict. At the same time, Pakistan has been looking for affordable energy sources to ease pressure on its economy and stabilize fuel prices.
As part of this shift, Pakistan started importing Russian crude oil in 2023 under a government-led framework. The first shipment arrived at Karachi Port in June 2023, when a tanker carrying 45,000 tonnes of Russian crude docked successfully. This marked a major milestone in Pakistan-Russia energy relations.
