The first shipment of Russian oil arrived in Karachi after being refined in an Indian refinery. The oil was transported through the UAE to address concerns in Pakistan. Russia’s approach aims to safeguard India’s relationship and strengthen its negotiating position with the IMF by offering discounted oil to Pakistan. The discounted oil enables Pakistan to negotiate with the IMF from a stronger standpoint and retain subsidies on pump prices, avoiding potential cost increases. Russia also seeks to maintain positive relations with India and leverage the oil deal in IMF negotiations.
- Russian oil refined in India sold to Pakistan through UAE