Pakistan's plan to import Russian oil in disarray over lack of funds and mechanism

Pakistan's plan to import discounted Russian crude oil is in disarray and making little headway on the ground.

ET has learnt that Russia had serious doubts about Pakistan's plan to buy crude oil and asked Islamabad to buy a single shipment to show that it was serious about the import. Russia is dismayed that Pakistan has not yet begun the procedure for the initial shipment of crude oil, according to Moscow-based sources. A special purpose vehicle (SPV) was to be established by Pakistan to transport Russian crude oil to its refineries to tide over its acute economic crisis but Islamabad may have come under western pressure to delay imports, according to experts who track Pakistan's ties with the western world.

Pakistan has allegedly been under western pressure to back Ukraine, including supply of arms in lieu of funds.