DND Special Report
Prime Minister of Pakistan Muhammad Shehbaz Sharif is expected to visit Russia in March 2026. Reports appearing in national media, referring to official sources, suggest that major progress is expected in the revival of Pakistan Steel Mills during the Prime Minister’s visit to Russia.
Reports also indicate that various agreements and MoUs are likely to be signed between Pakistan and Russia during this visit, including those related to regional peace, security, economy, and trade. During his visit, the Prime Minister will hold meetings with the Russian leadership, and discussions are expected on issues related to the revival of Pakistan Steel Mills. Reports claim that the federal government has prepared a comprehensive roadmap for the revival of Pakistan Steel Mills, and five Russian companies are interested in its revival and investment.
This forthcoming visit of the Prime Minister would definitely be a landmark development in the bilateral relationship between Pakistan and Russia. Expectations are high and optimism is present, but at the same time certain realities are written on the wall that need to be taken into mind before guessing what the outcome of this visit would be, because the Pakistan Stream Gas Pipeline (PSGP), formerly known as the North–South Gas Pipeline or PakSteam, was the only mega project (after Pakistan Steel Mills, which was done by the Soviet Union) signed with Russia, but now it has no fate left. The PakSteam agreement was signed in 2015 and again in 2021, when both countries reemphasized that this project would be completed. Now, there are no traces left of this project in official documents.
This pipeline project was proposed by Russia, stretching from the port city of Karachi to the city of Kasur in Punjab, Pakistan. It was a 1,100 km long project which was contracted by the Pakistani government to be built by Russia. In 2021, the Pakistani government estimated that this project would cost around US$2.25 billion, adjusted for inflation. Initially, the Government of Pakistan inked the agreement in 2015, under which Russia would build and operate the pipeline for the first 25 years before transferring ownership to Pakistan.
“State circles in Pakistan believe that Russia-Pakistan Eurasian forum that took place in December 2025 drew a pivotal line in the dialogue between Russia and Pakistan and played a significant role in fostering P2P diplomacy”
Since the 2014 Russia–Ukraine conflict, the main target of US sanctions has been Russian energy (oil and gas) projects, and Rosatom, the firm that planned to build PakSteam, was sanctioned, as were Gazprom and Cryogas Vysotsk Limited Liability Company. This was all done to fulfill the G7 commitment to reduce Russian revenues from energy. Since Pakistan has always been shied to defy US sanctions, the PakSteam project faced delays, just as the Iran–Pakistan Gas Pipeline project has faced due to US sanctions over Iran. When the Iran–Pakistan Gas Pipeline project and PakSteam were signed, Pakistan was in drastic need of energy, but it decided to respect US sanctions at the cost of producing energy at a higher cost, which shows how careful Pakistan is in dealing with US sanctions.
There are reasons to believe that US–Pakistan relations are in a better phase, and there are chances that the US would not sanction those Russian firms that would announce the revitalization of Pakistan Steel Mills; however, only time will determine this factor. Since 2015, Pak–Russia bilateral relations have been on a better trajectory, but the project for the supply of Russian crude oil to Pakistan has also not had a very promising fate because it could hit the belly of some friendly Gulf countries that too are US windows to Pak-US relations.
Experts in international relations are optimistic that this time Pakistan would engage with Russia positively, because Pakistan’s pursuit of balanced relations with major powers is a defining feature of its contemporary foreign policy, and Russia occupies an increasingly important place in that calculus. In a multipolar world, careful navigation of geopolitical sensitivities and a deliberate effort to transform momentum into maturity are possible, and Pakistan–Russia relations can get another chance to realize their full potential in the years ahead. State circles in Pakistan believe that Russia-Pakistan Eurasian forum that took place in December 2025 drew a pivotal line in the dialogue between Russia and Pakistan and the participation of Ambassador Tirmizi played a significant role in fostering P2P diplomacyAn article published recently suggests that what has transpired between late October 2025 and February 2026 is not a dramatic diplomatic breakthrough between Pakistan and Russia, but something arguably more important and sustainable: consolidation, continuity, and institutional maturity in Pakistan–Russia relations.
In a global environment marked by polarization, sanctions regimes, and strategic uncertainty, Islamabad and Moscow have chosen steadiness over spectacle, and their bilateral ties have demonstrated continued positive momentum and incremental strengthening, reinforcing a broader warming trend.
The most visible affirmation of this trajectory came in mid-January 2026, when Pakistan’s Ambassador to Russia, Faisal Niaz Tirmizi, presented his credentials to Russian President Vladimir Putin at the Grand Kremlin Palace. Such ceremonies are often routine, but the language used by the Russian president was not. President Putin described Pakistan–Russia relations as “mutually beneficial” and emphasized that cooperation across multiple sectors was expanding steadily. This endorsement carried both symbolic and political weight, signaling Moscow’s comfort with Islamabad as a reliable and pragmatic partner at a time when Russia’s diplomatic options are constrained by Western hostility.
That meeting underscored an important reality: Pakistan is no longer viewed through the narrow prism of regional security alone, but as a country with economic, connectivity, and diplomatic relevance in Eurasia. Equally important has been Pakistan’s balanced and pragmatic stance on the Russia–Ukraine conflict. Islamabad’s refusal to take sides, while maintaining engagement with all major powers, has been quietly appreciated in Moscow. In a time of rigid alignments, Pakistan’s diplomatic restraint has helped avoid regression in relations and has instead contributed to their stabilization and maturation.
It is a fact that in the past, progress in Pak–Russia relations has remained largely diplomatic rather than operational, and financial constraints, technical complexities, and geopolitical considerations continue to delay the execution of projects such as gas pipelines or crude oil sales. Pakistan has performed quite well in defense and security cooperation. Military-to-military dialogue continues, alongside discussions on counterterrorism cooperation, an area of shared concern given regional instability and transnational threats. Importantly, this engagement has been managed without provoking regional sensitivities or altering Pakistan’s existing defense equilibria.
When a former diplomat was asked to comment on forthcoming Pak–Russia bilateral projects, he said that there had been no dramatic expansion, but equally no rollback, and in today’s volatile environment, such stability is itself a diplomatic achievement.
