ISLAMABAD, (TDI): Pakistan and Russia signed eight agreements on Wednesday to enhance trade and economic cooperation during a ceremony in Moscow, coinciding with the 9th Intergovernmental Commission meeting.
The Pakistani delegation was led by Federal Minister for Energy Owais Ahmed Leghari, who highlighted the growing bilateral collaboration.
“Pakistan-Russia cooperation is progressing steadily, and these agreements will further deepen our ties across various sectors,” Leghari said.
The agreements cover several areas, including industrial cooperation and insulin production.
Additionally, a Memorandum of Understanding (MoU) was signed between New Tech, a Pakistani company, and a Russian university to foster academic and technological exchange.
No Crude Oil Deal with Russia
However, Federal Minister for Petroleum Dr. Musadik Masood Malik clarified that no agreement had been reached with Russia regarding the purchase of crude oil. In a statement in Islamabad, he dismissed reports of such a deal, calling them “baseless.”
Also Read: Pakistan, Russia Discuss Expansion of Bilateral Connectivity
Malik also provided an update on Pakistan’s LNG situation, revealing a surplus of liquefied natural gas due to lower demand from private-sector power plants.
“We have postponed five LNG cargoes and are considering delaying five more due to reduced costs and surplus supply in the global market,” he said.
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Regarding the Iran-Pakistan gas pipeline, Malik expressed Pakistan’s willingness to move forward if international sanctions on Iran were eased, though he refrained from providing further details.
