During the Inter-Governmental Commission (IGC) conference in Moscow, Pakistan declared that it had reached a deal with Russia to resume the import of crude oil at reduced prices.
According to the News, Pakistan has agreed to buy one shipment of oil each month under a Government-to-Government (GtG) agreement, and the trade is scheduled to start in January 2025.
Pakistan’s team is led by Federal Minister for Energy Sardar Awais Leghari, who stated that Pakistan Refinery Limited (PRL) will import 12 cargoes a year.
Jameel Ahmad, the governor of the State Bank of Pakistan, was instrumental in setting up a payment system that will enable seamless exchanges between the two nations.
