Significant transformation! This country settles Russian crude oil in RMB. Russia | Pakistan | crude oil
According to the report on the website of Singapore's Lianhe Zaobao on June 13, Pakistan's State Minister of Petroleum, Musadiq Malik, said that Pakistan paid the first batch of Russian discounted crude oil in RMB. This is a significant shift in Pakistan's export payment policy dominated by US dollars.
According to Reuters, Malik said on June 12th that the first batch of discounted Russian crude oil purchased by Pakistan has arrived and the payment is settled in Chinese yuan. But Malik did not further disclose the discounts or other details received by Pakistan.
Malik said that according to the agreement between the two sides, Pakistan purchased 100000 tons of Russian crude oil for the first time in April this year. The first batch of about 45000 tons arrived at Karachi Port in Pakistan on June 11th and is currently unloading, while the remaining Russian oil is on its way. He said that the procurement in April was the first intergovernmental oil transaction between Pakistan and Russia.