US, Pakistan Reach Deal to Develop Oil Reserves

2025-08-03 07:51:43

(MENAFN) The United States and Pakistan have reached an agreement in which Washington will assist Islamabad in developing its “massive oil reserves,” US President Donald Trump announced on Wednesday.

The statement was made on Trump’s social media platform, Truth Social, shortly after he revealed plans to impose 25% tariffs on India along with additional penalties related to its trade and defense relations with Russia.

“We have just concluded a Deal with the Country of Pakistan, whereby Pakistan and the United States will work together on developing their massive oil reserves,” Trump declared.

He added, “We are in the process of choosing the oil company that will lead this partnership. Who knows, maybe they’ll be selling oil to India some day!”

Pakistani Prime Minister Shehbaz Sharif confirmed that the two nations also finalized a trade agreement.

On X, Sharif expressed his gratitude by stating, “I wish to convey my profound thanks to President Trump for his leadership role in finalization of the historic US-Pakistan trade agreement, successfully concluded by our two sides in Washington, last night.”

He further remarked that “This landmark deal will enhance our growing cooperation so as to expand the frontiers of our enduring partnership in days to come.”

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