Pakistan may start importing oil, gas from Russia

Islamabad is discussing with Moscow starting imports of Russian oil and gas.

The South Asian country is suffering severe energy shortages due to a surge in oil prices following Russia's invasion of Ukraine and insufficient foreign currency.

Pakistan's economic minister Ayaz Sadiq met with Russian energy minister Nikolay Shulginov in Islamabad on Friday.

A joint statement says both sides agreed to boost energy cooperation, including trade and infrastructure investment.

It says oil and gas trade transactions will be made in a way that has mutual economic benefit for both sides. It indicates the process will be completed by the end of March.

Western countries have imposed sanctions on Russia's oil and gas to choke off the country's revenues. But analysts point out China and India have taken advantage of the situation by buying Russian energy at a discount.