Islamabad, December 16, 2025 – Pakistan is actively pursuing a broader oil sector agreement with Russia, as energy ministries from both nations engage in detailed discussions, according to statements from Pakistan’s Finance Minister Muhammad Aurangzeb.
In an interview with Russia’s RIA news agency, Aurangzeb expressed optimism about expanding cooperation beyond current crude oil imports. “All of these areas are Russia’s strengths. And we would be very happy if Russia agreed on an agreement in this sector with Pakistan,” he said, referring to potential collaboration in exploration, production, and refining.
The minister noted that the matter is currently being handled by the energy ministries of both countries. Additionally, Russia has previously discussed upgrading a Pakistani refinery with involvement from Russian companies, as mentioned by Russian Energy Minister Sergei Tsivilev in November.
This development builds on existing energy ties, with Pakistan beginning to import discounted Russian crude oil in 2023 to reduce import costs amid economic pressures. For Russia, the engagement helps diversify export markets following Western sanctions related to the Ukraine conflict.
Beyond oil, the two countries are exploring the construction of another steel plant in Pakistan, signaling deeper economic partnerships. Pakistan has increasingly focused on trade and investment with Russia in recent years.
While no final agreement has been announced, the ongoing talks highlight mutual interest in strengthening bilateral energy security and industrial cooperation.