Pakistan has recently made a significant shift in its energy trade dynamics
by paying for Russian crude oil using the Chinese currency. This move
signals a deepening economic collaboration between Pakistan, Russia, and
China. Previously, Pakistan primarily relied on the US dollar for
international transactions, but the use of Chinese yuan for purchasing
Russian crude showcases Pakistan’s efforts to diversify its economic ties.
This development comes in the backdrop of the China-Pakistan Economic
Corridor (CPEC), a major infrastructure project aiming to enhance
connectivity and trade between the two nations. The utilization of Chinese
currency in bilateral trade further strengthens the economic bonds between
Pakistan and China, while also expanding Pakistan’s energy trade
partnerships.
by paying for Russian crude oil using the Chinese currency. This move
signals a deepening economic collaboration between Pakistan, Russia, and
China. Previously, Pakistan primarily relied on the US dollar for
international transactions, but the use of Chinese yuan for purchasing
Russian crude showcases Pakistan’s efforts to diversify its economic ties.
This development comes in the backdrop of the China-Pakistan Economic
Corridor (CPEC), a major infrastructure project aiming to enhance
connectivity and trade between the two nations. The utilization of Chinese
currency in bilateral trade further strengthens the economic bonds between
Pakistan and China, while also expanding Pakistan’s energy trade
partnerships.
