Cash-strapped Pakistan is seeking discounts in oil imports from Russia and has urged Moscow to strike a long-term oil deal while remaining within the price cap at USD 60 per barrel, a media report said on Friday.
Pakistan, which is currently grappling with high external debt and a weak local currency, is hoping that snapping crude at discounted rates from Russia will stabilise oil prices in the country, The Express Tribune newspaper reported.
“Pakistan wanted Russia to set a benchmark of USD 60 dollars per barrel ‘free on board’ (FOB) – the actual price charged at the port – to import crude oil on a long-term basis.
