Russia to Supply Oil to Pakistan During Strait of Hormuz Crisis

A new report in Russian media says that Russia is expected to supply crude oil to Pakistan while tensions continue around the Strait of Hormuz. Experts believe this move could help Pakistan manage its energy needs during the current regional crisis.

Russian Oil Shipment Expected Soon

According to the report, energy expert Mimouda Salame said that around 733,000 barrels of Russian crude oil will soon arrive at Port Qasim in Karachi.

The report said the shipment is expected to reach Pakistan in the coming days. It is part of efforts to secure alternative oil supplies as uncertainty grows in global shipping routes.

Experts believe that energy cooperation between Pakistan and Russia may increase if tensions in the Gulf region continue.

Pakistan Searching for Stable Oil Sources

For many years, Pakistan has relied mainly on oil imports from Saudi Arabia and the United Arab Emirates.

However, Pakistan has already purchased Russian crude oil in the past as part of its strategy to diversify energy imports and reduce costs.

Energy analysts say importing oil from Russia could provide Pakistan with more options in the international energy market.

Oil Prices Could Hurt Pakistan’s Economy

The report also quoted the Pakistan Business Council, which warned about the economic impact of rising oil prices.

According to the council, a 10 percent increase in global oil prices could add 1.5 to 2 billion dollars to Pakistan’s current account deficit.

Experts say that if oil prices rise to 100 dollars per barrel, Pakistan’s annual deficit could increase by 5 to 7 billion dollars.

Energy Security Becomes a Major Concern

With the ongoing tensions in the Strait of Hormuz, energy security has become a major concern for many countries.

Analysts say Pakistan is trying to secure stable oil supplies to avoid economic pressure if global energy prices continue to rise.