Russia to Supply Oil to Pakistan Amid Hormuz Crisis

Russian media, citing energy experts, has claimed that Russia will supply oil to Pakistan amid the ongoing crisis in the Strait of Hormuz.

The report quotes Dr. Mamdouh Salameh, an expert on global energy affairs, stating that a shipment of 733,000 barrels of Russian crude oil is expected to arrive at Port Qasim soon. While Pakistan has traditionally relied on Saudi Arabia and the United Arab Emirates for its energy needs, it has previously purchased Russian crude oil.

The Pakistan Business Council (PBC) further highlighted the economic stakes, noting that for every 10% increase in global oil prices, Pakistan’s current account deficit expands by $1.5 billion to $2 billion. The report estimates that if global oil prices reach $100 per barrel, Pakistan’s annual deficit could rise by $5 billion to $7 billion.