The first cargo of Russian oil, also being called the ‘test’ cargo, is expected to reach Pakistan on May 24.

The oil will be sold to Pakistan at a rate 35% below the price that it is being sold in the international market.

Authorities have also said that Pakistan will try to get 30% of its oil from Russia, which could help ease Pakistan’s import bill.

Energy Minister Musadik Malik has already clarified that the oil Pakistan will get from Russia will be crudi not refined. The agreement had said that the oil would reach Pakistan in May.

The first batch will be refined by Pakistan Refinery Limited and the operation will gradually be spread to other refineries as well.

Russian Energy Minister Nikolay Shulginov led a delegation to Islamabad in January to hold talks on the deal, after which he said oil exports to Pakistan could begin after March.

It was earlier said that the deals would be made in currencies of ‘friendly’ countries and speculation had said that this could be Yuan and Dirham, but nothing has been made clear on this front.