Pakistan will start importing oil and gas from Russia by March on terms that will ensure “mutual economic benefit”, the nations said in a joint statement on Friday.

Since the launch of its military offensive against Ukraine, Moscow has been targeted by Western economic sanctions and has sharply reduced its hydrocarbon deliveries to Europe, turning to Asia to compensate.

“Both sides agreed that after consensus on the technical specifications achieved, the oil and gas trade transaction will be structured in a way such that it has mutual economic benefit for both countries,” the statement said.

Edited By-SPT