Pakistan may pay for discounted Russian crude in Chinese currency: Report
Pakistan may use Chinese Yuan to pay for the 750,000 barrels of discounted Russian crude oil set to be imported in June, a media report said on Thursday, as the cash-strapped country struggles with high external debts.
Pakistan placed its first order for discounted Russian crude oil last month, a decision expected to provide some relief to the people already hit by skyrocketing inflation.
Pakistan will pay the price of crude most probably in China’s currencyYuan and the Bank of China may play its role for transactions, a senior official of the Energy Ministry told The News International newspaper.
