There will be a deal in Chinese currency!
Sajid Tarar, a Pakistani-origin businessman in America, tweeted and gave information about this. Sajid wrote, ‘This is another blow to America’s foreign policy. Pakistan will buy oil from Russia and that too in Chinese currency. He further wrote that Saudi Arabia has already started trading oil in currencies other than the dollar.
Pakistani journalist Wajahat Khan has given detailed information about this. He has told that the oil payment will be made to Russia through China which is closest to Pakistan. According to Wajahat, Pakistan will pay for oil in Yuan. This decision of Pakistan can be a setback for America in South Asia.
Payment crisis may reduce
It is going to be very difficult for Pakistan which is trying to improve its relations with America. Certainly America’s interests will be affected. Along with this, Pakistan will also benefit Russia through China. The biggest reason for Pakistan’s economic crisis is lack of energy. It has become difficult for him to pay the huge bill on imports.
Buying cheap oil from Russia will provide some relief in the bill payment crisis. To overcome the shortage of dollars, Pakistan can use Chinese Yuan. Due to this yuan, oil deal with Russia will be done. It is believed that Pakistan can import 35 percent of its total oil requirement from Russia.
Challenging for Pakistan as well
This decision is going to be very challenging for Pakistan as well. On the one hand, it needs cheap oil and at the same time it would not want to anger America. Especially when he is trying to get a bailout package from the International Monetary Fund (IMF). IMF has the help of America. According to experts, Pakistan often gives the example of India that when it is buying cheap oil from Russia then why can’t it buy it. But if foreign policy experts are to be believed, India’s situation is much different from that of Pakistan. The danger of becoming a pauper is increasing on Pakistan at this time.
what do the experts think
According to Uzair Yunus, director of the Pakistan Initiative in the Atlantic Council, America believes that countries like Pakistan are strategically very important for it. In the ongoing show of strength between China and the US, Pakistan does not play a major role. If they are to be believed, somewhere America also thinks that if someone else can bear the burden of Pakistan’s disintegrating Pakistan and its unstable economy, then there is no problem.
America doesn’t matter
Uzair believes that Pakistan will always be strategically important for America and relations with it will also be in place. Tamanna Salikuddin, director of South Asia Programs at the US Institute of Peace, believes that the oil deal between Russia and Pakistan is of no importance to either the US or the Gulf countries.
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