Pakistan may benefit from new US licence allowing access to Russian oil: report

Pakistan is among the countries that could benefit from a new 30-day United States licence allowing selected energy-importing nations to access Russian oil, Dawn reported, citing diplomatic sources.

The United States Department of the Treasury has issued a general licence to ease pressure in global crude markets and support energy-vulnerable countries facing supply disruptions.

United States Treasury Secretary Scott Bessent said in a post on X that the department was issuing a temporary 30-day general licence to provide vulnerable nations access to Russian oil currently stranded at sea.

He said the extension would offer additional flexibility and that the United States would work with countries to issue specific licences where required.

According to Bessent, the measure is intended to stabilize the physical crude oil market and ensure supply reaches countries facing energy shortages.

He added that the arrangement would also help redirect existing supplies to countries most in need while reducing China’s ability to stockpile discounted Russian oil.

Diplomatic sources said the arrangement may also apply to Pakistan, though they cautioned that Islamabad could face difficulties in fully utilising the concession due to limited refining and processing capacity.

According to the sources, Pakistan has not previously imported Russian crude oil at a significant scale and may lack the infrastructure needed to process large shipments.