: Pakistan has conveyed to Russia that it would not award multibillion-dollar projects to US-sanctioned entities as such a move had already resulted in hampering progress on the North-South gas pipeline project. The $2 billion North-South gas pipeline project hit snags following Russia’s failure in providing a sanctions-free entity to implement the project. Under the proposed plan, a gas pipeline would be built from Karachi to Lahore and Russia would provide 85 per cent financing for the project. The implementation of the North-South gas pipeline project has been severely impacted by the numerous changes enacted in the corporate structure. UBO Pumpyanski, however, is on the sanctions’ watch list.

Source: The Express Tribune October 26, 2019 03:33 UTC