Today News Update Russian Oil Paid in Chinese Currency, Musadik Malik
He declined to discuss the financial terms of the two nations’ deal in an interview with the British news agency Reuters, but he did clarify that the price of crude oil was paid in Chinese currency rather than US dollars.
Notably, oil is being delivered from the Russian ship that was stranded in Karachi yesterday. A fresh oil purchase agreement was signed between Moscow and Islamabad.
This is the first time that oil has been paid for in Chinese currency, despite the fact that Pakistan pays the majority of its petroleum product exports in US dollars; this could indicate a change in policy and is undoubtedly a setback for the US. It is feasible to provide evidence.
Federal Minister of State for Petroleum and Dr. Senator Mossadegh Malik, the head of the Pakistan Muslim League (N), said: “We have looked at different oil products and there is no way that there is any harm in refining this crude oil.” Yes, we do think that this is a successful business deal.
A representative for the Karachi Port Trust stated that the 183-meter-long Russian ship Pure Point arrived yesterday carrying 45,142 metric tonnes of oil in total.
The arrival of the Russian oil tanker in Pakistan, according to Prime Minister Mian Shahbaz Sharif, fulfilled another promise made to the country.