Pakistan pays for Russian oil in Chinese Yuan under govt-to-govt deal.
During a phone conversation, the minister verified this information but would not go into depth on the terms of the sale or any discounts Pakistan could have obtained on Russian Oil.
According to the minister, the initial processing of the Russian oil would be carried out by Pakistan’s Refinery Limited (PRL).
He had before defined this purchase as a test to determine whether importing Russian crude oil was technically and financially feasible.
The minister also discounted worries about the viability of the local refineries’ finances and their capacity to process Russian crude oil.
This action signifies a change in Pakistan’s oil import sources as the Middle East has historically been the main source of the nation’s oil imports.
