US Cannot Stop Us from Taking Oil from Russia- Warns Pakistan

Since Moscow invaded Ukraine on February 24, the United States and Europe have imposed crippling sanctions on Russia. Despite Western criticism, India increased its oil imports from Russia following the Ukraine war and continues to do business with Moscow.

To counteract the skyrocketing fuel prices in the nation, Pakistan's finance minister stated on Wednesday that his nation was "actively considering" the possibility of importing oil from Russia along the lines of India.

Ishaq Dar told the media, without elaborating on who he discussed the idea with, "I have made my intention about buying oil from Russia during my visit to the US and no opposition was expressed."

"Pakistan is actively considering buying oil from Russia, but it should be at a price that is lower or on par with India," Dar said, adding that if Pakistan wanted to purchase oil from the same source as India, there was no reason to prevent it.

After speaking at a conference put on by the Institute of Chartered Accountants of Pakistan, Dar was interacting with the media. He recently came back from the US, where he had in-depth discussions about the Pakistani economy with multilateral donors and organizations

Since Russia invaded Ukraine on February 24, the US and other European countries have imposed severe sanctions on the country. Despite criticism from the West, India increased its oil imports from Russia after the Ukraine war and still conducts business with Moscow.

In his earlier speech to the conference, Dar stated that Pakistan needed approximately USD 34 billion to meet its obligations, including approximately USD 24 billion to pay off debts this year. Despite this, Dar vowed to meet the challenge.

He quashed the stress that Pakistan wouldn't uphold its international commitments, claiming that the threat of default had passed and that Pakistan was ready to fulfill its obligations. There is no need to worry because I have already stated that we will fulfill our obligations.

Pakistan would not go to the Paris Club to request a rescheduling of its USD 27 billion debt, the finance minister added.

He claimed that the government is acting to stabilize the economy, which the recent floods have severely damaged. He emphasized that everyone would need to agree on the Charter of Economy and that political stability was essential for promoting investment.