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Pakistan Pays for Russian Oil in Yuan

OIL

Pakistan’s first cargo of discounted Russian oil was paid for in Chinese yuan according to Reuters reports citing Petroleum Minister Musadik Malik.

  • This refers to the snippet from earlier where Pakistan Prime Minister Shehbaz Sharif said on twitter on Sunday "Glad to announce that the first Russian discounted crude oil cargo has arrived in Karachi and will begin oil discharge tomorrow".
  • This is likely to form a longer term trade route between the two countries but it was not initially clear what currency was used.

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