Tue Dec 16 06:51:01 UTC 2025: Here’s a summary and a news article based on the provided text:

Summary:

Pakistan and Russia are in discussions regarding a potential oil-sector agreement. Pakistan’s Finance Minister Muhammad Aurangzeb indicated that Pakistan welcomes Russian involvement in exploration, production, and refining. This follows Russia’s interest in upgrading a Pakistani refinery and Pakistan’s increased engagement with Russia for energy needs since 2023, seeking lower import costs amidst Western sanctions on Russia. Additionally, the two countries are exploring the possibility of constructing a new steel plant in Pakistan.

News Article:

Pakistan and Russia in Talks for Major Oil Sector Deal, New Steel Plant Considered

Islamabad, Pakistan – December 16, 2025 – Pakistan and Russia are engaged in discussions for a comprehensive oil-sector agreement, according to Pakistan’s Finance Minister Muhammad Aurangzeb. The minister revealed the ongoing talks in an interview with RIA news agency, published today.

“All of these areas are Russia’s strengths. And we would be very happy if Russia agreed on an agreement in this sector with Pakistan,” Aurangzeb stated, highlighting Pakistan’s interest in Russian expertise in exploration, production, and refining. Energy ministries from both countries are currently working to finalize the potential agreement.

The move comes after increased engagement between Pakistan and Russia in recent years, with Pakistan seeking to diversify its energy sources and lower import costs. Pakistan began importing Russian crude oil in 2023 as Moscow sought new markets following Western sanctions related to the conflict in Ukraine. In November, Russian Energy Minister Sergei Tsivilev mentioned discussions regarding Russian companies upgrading a refinery in Pakistan.

Beyond the oil sector, Aurangzeb also revealed that Russia and Pakistan are exploring the possibility of constructing a new steel plant within Pakistan. This deepening economic cooperation signals a growing strategic partnership between the two nations.

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