Pakistan-Russia: Pakistan will no longer buy cheap crude oil from Russia. This is because refinery units or plants in Pakistan have been able to achieve very little success in refining Russian crude. Due to this, they are facing a huge loss.
Pakistan had secured the crude import deal from Russia after a lot of pleading. Actually, India had made a deal a year and a half ago to import cheap crude from Russia. After this, the two governments of Pakistan made a deal with Russia to match India, but now the bet of showing off has cost them dearly.
According to the report of the Pakistani website ‘The News’ – the government has decided to stop the import of crude oil from Russia immediately. However, a middle way has been found for this also. The first import has been suspended. After this, there will be a permanent ban. This method is being adopted so that the Russian government does not get angry with this unilateral decision of Pakistan.
It has been further said in the report – There are only two refineries in Pakistan. Both of them have made it clear that they will no longer be able to refine Russia’s crude oil. The reason for this is that Arab countries are able to provide very less refined petrol as compared to crude oil, while the production of furnace oil is increasing by 20 percent.
Apart from this, very little kerosene or ship fuel is being received after refining from Russian crude. It is obvious that the decision taken by the Government of Pakistan to import crude from Russia has now become a cause of great trouble for it.