Pakistan plans to boost Russian oil imports amid Hormuz crisis

Pakistan is planning to expand its oil imports from Russia as the continuing crisis around the Strait of Hormuz disrupts global energy supplies. In an interview with Russia’s state-run TASS News Agency, Pakistan’s Ambassador to Moscow Faisal Niaz Tirmizi said demand for Russian energy resources had risen significantly due to uncertainty surrounding the vital shipping route. He explained that Pakistan produces only around 10 per cent of its total energy requirements domestically, while the majority is imported mainly from Gulf nations. “Because of the current situation, a serious challenge has emerged, prompting us to search for alternative sources,” he said. Tirmizi noted that Pakistan could eventually hold discussions on pipeline projects linking South Asia with Turkmenistan and Russia as part of efforts to diversify energy supplies. Iran shut the Strait of Hormuz following joint military strikes by the United States and Israel, which began on February 28 and concluded on April 8 after a ceasefire mediated by Pakistan. Although the ceasefire remains in place, tensions persist as both sides continue to disagree over proposals for a lasting settlement, particularly regarding restrictions linked to the Strait of Hormuz. Roughly one-fifth of the world’s oil and liquefied natural gas exports normally pass through the strategic route, which serves as the primary export corridor for Gulf producers, including Saudi Arabia, Iraq and Qatar. During the interview, Tirmizi described the Hormuz situation as an alarming development for many countries, including Pakistan, and stressed that Russia remains a major global supplier of oil and energy resources. He stated that Pakistan was also considering broader regional connectivity initiatives involving roads, railways, pipelines, educational exchanges and humanitarian links aimed at integrating the Eurasian region more closely. Middle East crisis poses risks to Pakistan’s economic outlook: SBP