Russia has urged Pakistan to adopt a bold approach similar to India’s and resist Western pressure to improve economic relations with Moscow, Business Recorder reported.

This message was delivered by a Russian delegation during official meetings with Pakistani officials.

Despite the overture, Islamabad has shown hesitation in signaling a commitment to Moscow, largely due to concerns over potential Western sanctions.

The delegation, led by Deputy Prime Minister Alexey Overchuk, is in Pakistan for an assessment mission and will compile a report for high-level review in Moscow before any further steps are taken by both nations.

A Pakistani delegation, led by Minister for Planning and Development Ahsan Iqbal, is scheduled to visit Moscow at the end of the month to explore avenues for enhancing bilateral cooperation across various sectors.

Initially, there were plans to send a larger group of ministers, including those from Petroleum, Industries and Production, and Commerce. However, the government has since opted for a streamlined delegation consisting of Ahsan Iqbal and senior officials.

Sources indicate that Russian deputy ministers, equivalent in rank to federal secretaries in Pakistan, have already engaged in discussions with Pakistani ministers to identify ways to strengthen economic ties.

During discussions on enhancing trade, both Russia and Pakistan explored the possibility of utilizing land routes for commerce, specifically through Afghanistan and Iran. However, trade through Afghanistan seems impractical due to strained relations between Islamabad and Kabul, while the Iranian route is complicated by current geopolitical tensions.

In response, Russia has suggested that Pakistan consider using local or third-party currencies, such as the Chinese RMB or UAE dirham, along with Russia’s banking messaging system, to facilitate bilateral trade without succumbing to external pressure. These proposals were initially presented by Russian President Vladimir Putin to Pakistani Prime Minister Shehbaz Sharif during their meeting at the SCO Summit in Astana this July.

Putin emphasized, “We can use the Russian banking messaging system for bilateral trade. The use of third-party currencies can also be implemented to avoid pressure from other countries,” according to sources.

Additionally, an official statement from Pakistan’s Commerce Ministry revealed that Federal Minister for Commerce Jam Kamal Khan and Federal Minister for Industries, Production, and National Food Security Rana Tanveer Hussain met with Russian Deputy Agriculture Minister Sergey Levin to discuss these trade initiatives.

Read more

Pakistan, Russia plan to establish new steel mill in Karachi

Pakistan to get ‘strategic’ rail links with Russia

FM Bilawal arrives in Moscow on two-day official visit