Washington D.C. – Former U.S. President Donald Trump has announced a significant oil deal with Pakistan, aiming to assist in developing the country’s expansive oil reserves. Trump referred to Pakistan’s reserves as “massive” and indicated potential future sales, including to India. The CIA reports that Pakistan possesses over 332 million barrels of proven crude oil.
The agreement intends to bolster economic relations between the United States and Pakistan. Officials have highlighted that the deal could lead to:
- Lower tariffs on Pakistani exports to the U.S.
- Enhanced market access for Pakistan
Pakistan’s Prime Minister Shehbaz Sharif praised the deal, calling it a “landmark agreement” and expressed appreciation for Trump’s leadership in facilitating this development.
This deal arises amid ongoing trade tensions between the U.S. and India. Recently, Trump imposed a 25 percent tariff on Indian products while also penalizing India for purchasing Russian weapons and oil. The U.S. involvement in Pakistan’s oil development could further intensify geopolitical complexities between the two South Asian countries.
The agreement was finalized during negotiations in Washington and focuses on expanding Pakistan’s energy resources. Although full details are yet to be revealed, it marks a notable shift in economic relations between the two nations.
Stay tuned to Questiqa World News for the latest updates on this developing story.
About The Author
