Pakistan makes its first purchase of discounted Russian oil

Pakistan has placed its first order for discounted Russian crude oil under a deal struck between Islamabad and Moscow, the country’s petroleum minister said, with one cargo to dock at the port of Karachi in May.

Pakistan’s purchase gives Russia a new outlet, adding to Moscow’s growing sales to India and China, as it redirects oil from western markets because of the Ukraine conflict.

As a long-standing Western ally and the arch-rival of neighbouring India, which historically is closer to Moscow, analysts say the crude deal would have been difficult for Pakistan to accept, but its financing needs are great.