Moscow: Pakistan and Russia have signed eight key agreements aimed at enhancing trade and economic cooperation between the two nations. The agreements were finalized during a ceremony in Moscow, where the 9th Intergovernmental Commission meeting took place.
The Pakistani delegation, led by Federal Minister for Energy Owais Ahmed Leghari, engaged in discussions that underscored the growing ties between the two countries. Leghari highlighted the progress of Pakistan-Russia cooperation and emphasized that these new agreements would further deepen collaboration in various sectors.
The agreements cover a wide array of initiatives, including industrial cooperation, the production of insulin, and a Memorandum of Understanding (MoU) between New Tech, a Pakistani entity, and a Russian university. The MoU aims to foster academic and technological exchanges between the two nations.
However, despite the positive developments, Pakistan’s Federal Minister for Petroleum, Dr. Musadik Masood Malik, clarified that no agreement had been made regarding the purchase of crude oil from Russia. Speaking to the media in Islamabad, Malik dismissed reports suggesting a crude oil deal, stating, “The news about crude oil agreements with Russia is baseless. No conclusion has been reached on this matter.”
In addition, Malik updated the public on Pakistan’s LNG situation, noting a surplus in liquefied natural gas (LNG) due to reduced demand from private-sector power plants. He mentioned that the government had postponed five LNG cargoes and was considering delaying additional ones given the reduced costs and surplus supply in the international market.
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On the Iran-Pakistan gas pipeline project, Malik expressed Pakistan’s willingness to proceed with the project if international sanctions on Iran are relaxed, though he refrained from providing further details.
These agreements and discussions reflect the strengthening economic and trade relations between Pakistan and Russia, particularly in areas of energy, industry, and technology.
