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US won’t oppose Pak-Russia oil deal

01:41 PM | 27 Apr, 2023
US won’t oppose Pak-Russia oil deal
Source: Twitter

The Biden administration has indicated that it will not oppose Pakistan's decision to purchase discounted Russian crude oil, after Pakistan placed its first order for the oil last week.

While the United States has not signed a Washington-backed price-cap on Russian petroleum products, it has left the door open for such purchases since it placed restrictions on Russian oil after Moscow invaded Ukraine last year.

The US State Department spokesperson stated that each country can make its own sovereign decisions about its energy supply, but also warned about the need to ensure that Russian energy markets are not benefiting President Putin's war machine.

Pakistan's purchase gives Russia a new outlet as it redirects oil from western markets due to restrictions. Additionally, the US assured Islamabad that any assets or weaponry left behind in Afghanistan were no longer usable, in response to a question about Tehreek-i-Taliban Pakistan acquiring weapons.

Earlier, State Minister for Petroleum Musadik Malik had confirmed that Pakistan would start importing crude oil from Russia from March this year in forehand preparations to meet energy demands in summer season.

His statement comes as the annual Pakistan-Russia Intergovernmental Commission session concluded today after three-days of talks between the visiting Russian delegations and Pakistani officials. Russian Energy Minister Nikolay Shulginov led the Russian delegation to Pakistan months after the officials of the South Asian country visited Moscow for talks on import of oil and gas.

Daily Pakistan Global Web Desk

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Pakistani Rupee exchange rate to US Dollar, Euro, Pound, Dirham, and Riyal - 2 July 2024

Pakistani currency rates against US Dollar and other currencies on July 2, 2024 (Tuesday) in open market.

USD to PKR Rate Today

US dollar was being quoted at 277.75 for buying and 280.60 for selling.

Euro's buying rate stands at 293.4 and selling rate is 296.9 while British Pound rate is 349 for buying, and 352.55 for selling.

UAE Dirham AED was at 74.85 and Saudi Riyal at 72.95.

Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency Symbol Buying Selling
US Dollar USD 277.75 280.6
Euro EUR 293.4 296.9
UK Pound Sterling GBP 349 352.55
U.A.E Dirham AED 74.85 75.65
Saudi Riyal SAR 72.95 73.75
Australian Dollar AUD 182.2 184
Bahrain Dinar BHD 740.01 748.01
Canadian Dollar CAD 203 205
China Yuan CNY 38.29 38.69
Danish Krone DKK 39.98 40.38
Hong Kong Dollar HKD 35.63 35.98
Indian Rupee INR 3.34 3.45
Japanese Yen JPY 1.9 1.98
Kuwaiti Dinar KWD 904.27 913.27
Malaysian Ringgit MYR 58.99 59.59
New Zealand Dollar NZD 169.34 171.34
Norwegians Krone NOK 26.14 26.44
Omani Riyal OMR 722.52 730.52
Qatari Riyal QAR 76.44 77.14
Singapore Dollar SGD 202 204
Swiss Franc CHF 26.27 26.57
Thai Bhat THB 7.55 7.7

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