Particle.news

Download on the App Store

Pakistan Begins Receiving Russian Crude Oil In Effort To Ease Debt Crisis

  • Pakistan welcomed the first shipment of discounted crude oil from Russia as part of a deal struck between the two nations.
  • The crude oil shipment consisted of 100,000 tonnes, with 45,000 tonnes already docked in Karachi and the remainder on the way.
  • Pakistan's government purchased the crude oil from Russia using Chinese currency.
  • The crude oil deal provides Pakistan economic relief at a time when the country faces a debt crisis and risk of default.
  • The acquisition of 100,000 barrels of crude oil per day from Russia greatly decreases Pakistan's dependence on oil from the Middle East.
Hero image