Pakistan turns to Russian Crude as fuel prices spiral out of control

ISLAMABAD – Fuel-hit Pakistan is now considering major expansion of oil imports from Russia in a move that could reshape the country’s energy strategy and regional alliances as Hormuz closure and record increase in prices dented oil supply of the country of around 250 million. Pakistan’s Ambassador to Moscow, Faisal Niaz Tirmizi, revealed that Islamabad is actively searching for alternatives to Gulf energy supplies as the Hormuz crisis threatens the country’s economic stability. “Islamabad produces only around 10% of the energy it needs,” he said, warning that the country remains overwhelmingly dependent on imported fuel, most of it coming from Gulf nations. With oil shipments disrupted and uncertainty growing in the region, officials in Islamabad now see Russian crude as a possible lifeline. The crisis erupted after Iran shut down Strait of Hormuz following joint military strikes by the United States and Israel between February 28 and April 8. Although a Pakistan-mediated ceasefire temporarily reduced tensions, negotiations over a permanent settlement remain deadlocked, particularly over the issue of blockades and access to Hormuz. The closure of the strait sent shockwaves through global energy markets. Nearly one-fifth of the world’s oil and liquefied natural gas exports normally pass through this narrow but strategically critical waterway, making it one of the most important trade routes on Earth. Petrol Price in Pakistan The Sharif-led government increased petrol prices from Rs399.86 to Rs414.78 per litre, while high-speed diesel rose from Rs399.58 to Rs414.58 per litre. At the same time, petroleum levies were sharply raised. The levy on petrol jumped from Rs103.50 to Rs117.41 per litre, while diesel levies surged from Rs28.69 to Rs42.60 per litre, according to officials from the Petroleum Division. As inflationary pressure intensifies, Islamabad appears determined to diversify its energy partnerships before the crisis worsens further. Amabassador Tirmazi disclo