20 Jan 2023 15:48

Russia, Pakistan to determine oil supply volumes in agreement by end of March, decide logistics, insurance, payment issues

MOSCOW. Jan 20 (Interfax) - An agreement on oil supplies to be prepared by Russia and Pakistan by April will decide logistics, insurance, and payment issues, as well as supply volumes, Russian Energy Minister Nikolai Shulginov told journalists following a Russia-Pakistan intergovernmental commission meeting.

"Supplies of oil and oil products presuppose, of course, the achievement of an agreement in the area of insurance, payment, and transport. These issues are in the final stage of agreement, there is an understanding that we can come to an agreement in this timeframe, and there is, most importantly, a drive from the Pakistani side to lend assistance in these agreements," Shulginov said.

The parties have agreed that supply payments will be made in the currencies of friendly countries, he said.

"We will provide discounts [on the price of oil] in the same manner for all on a commercial basis. We do not single out individual countries, we do not make exceptions," Shulginov said.