Pakistan Seeks To Buy Russian Oil At $50 Per Barrel

Pakistan is looking to buy Russian oil at $50 per barrel, media reported on Sunday, as the South Asian country is grappling with an economic and foreign reserves liquidity crisis. Pakistan is desperate to import energy at low costs, after it was outspent on the market last year when oil and gas prices surged while Pakistani foreign exchange reserves dwindled. A potential purchase of $50 oil from Russia would be $10 below the G7 price cap on Russian crude, below which shipments are still cleared to enjoy insurance and financing services from Western…