Pakistan: Imran Khan Laments Government Overthrow, Missed Opportunity to Acquire Cheap Russian Crude Oil Like India

Pakistan: Imran Khan Laments Government Overthrow, Missed Opportunity To Acquire Cheap Russian Crude Oil Like India

by Swarajya Staff - Monday, April 10, 2023 05:01 PM IST
Pakistan: Imran Khan Laments Government Overthrow, Missed Opportunity To Acquire Cheap Russian Crude Oil Like IndiaFormer Pakistan Prime Minister Imran Khan (Virendra Singh Gosain/Hindustan Times via Getty Images)

Imran Khan, ex-prime minister of Pakistan and leader of PTI, praised India's foreign policy, expressing his aspiration to acquire inexpensive Russian crude oil like India. He said that he couldn't achieve it as his government was overthrown due to a vote of no confidence.

Khan said, addressing the nation in a video message, "We wanted to get cheap Russian crude oil just like India but that could not happen as unfortunately, my government fell due to a no-confidence motion."

Although Khan was the first Pakistani PM to visit Moscow in 23 years, he couldn't negotiate any deal to provide relief to his country's financial situation.

Khan, previously, too, acknowledged India's economic growth and purchase of Russian oil despite Western pressure.

"No other leader except Nawaz in the world has properties worth billions. Tell me about one country whose Premier or leader has billions worth of properties outside the country. Even in our neighbouring country, how many properties does PM Modi has outside India?" he had said at a public gathering in September 2022.

In May 2022, Khan praised PM Narendra Modi for buying affordable Russian oil despite US pressure.

"Despite being part of the Quad, India withstood US pressure and bought cheap oil from Russia to facilitate its people," tweeted Imran, adding, "Our government was trying to achieve this through an independent foreign policy."

In April 2023, Musadik Malik, Pakistan's Minister of State for Petroleum, announced that they would receive their first shipment of inexpensive oil from Russia the following month.

In an interview with a private news channel, the State Minister confirmed that a deal with Moscow has been finalised and the "first shipment will arrive next month via cargo."

After months of negotiation, the deal could alleviate Pakistan's fiscal issues. As a net importer of energy, the country seeks methods to decrease its oil import expenses.

Malik reported to Geo News that the government made progress and planned to offer separate billing for underprivileged and elite class.

As per reports, the Petroleum Division aimed to obtain Russian crude oil for roughly $50 per barrel, which is about $10 below the set price restriction by the G7 nations. The reason for the price limit is attributed to the conflict between Russia and Ukraine.

According to Geo News, officials in virtual talks with Russia revealed that Moscow is focused on finalising details like payment mode, shipping and insurance costs before signing an agreement with Pakistan.

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