ISLAMABAD : As tensions mount in the Middle East, a shipment of Russian crude oil is en route to Pakistan, offering a potential buffer for the country against the disruption of supplies through the Strait of Hormuz, according to a global energy expert.
Dr. Mamdouh G. Salameh, an international expert on energy economics, told Russian news agency Sputnik that a cargo of 733,000 barrels of Russian crude oil is expected to arrive at Pakistan’s Port Qasim. The development comes at a critical time, as the Strait of Hormuz—a vital chokepoint through which a significant portion of the world’s oil passes—faces potential disruptions.
Pakistan has historically relied heavily on crude oil imports from Gulf nations, particularly Saudi Arabia and the United Arab Emirates. However, even before the current regional crisis, Islamabad had begun a strategic shift to diversify its energy sources, with Russian crude being introduced into its supply mix as part of broader bilateral trade agreements.
The economic stakes for Pakistan are high. According to data from the Pakistan Business Council, every $10 increase in global oil prices widens the country’s current account deficit by an estimated $1.5 billion to $2 billion. Should global prices surge to $100 per barrel amid the crisis, the deficit could balloon by an additional $5 billion to $7 billion on an annual basis.
Experts warn that if disruptions in the Strait of Hormuz persist and oil prices remain elevated, fuel rationing may become unavoidable for Pakistan, which is already navigating a difficult macroeconomic environment. The arrival of the Russian shipment is seen as a timely measure to help stabilize supplies and mitigate the impact of any prolonged closure or instability in the strategic waterway.
