Pakistan paid first crude oil shipment from Russia in Chinese yuan

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Pakistan paid for its first government-to-government import of discounted Russian crude in Chinese currency, the South Asian country’s petroleum minister said on Monday.

The first cargo of discounted Russian crude oil arranged under a new deal struck between Islamabad and Moscow earlier this year arrived in Karachi on Sunday. It’s currently being offloaded at the port in the southern city of Karachi.

Petroleum Minister Musadik Malik said the payment was made in Chinese currency.