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Pakistan Keen to Pay for Russian Oil Imports With Chinese Yuan

  • Such a deal would dovetail with Beijing’s currency ambitions
  • Islamabad trying to revive a stalled bailout package with IMF

Pakistan has placed an order for a single cargo of Russian oil, but is keen for a long-term deal to buy the crude in Chinese currency, according to the country’s power minister.

The payment for the first shipment has been made in US dollars but Pakistan would like further purchases to be in made in yuan, given the nation has a currency swap arrangement with China, Minister Khurram Dastgir Khan said in an interview late last week.