Paying in Chinese currency for Russian oil is Pakistan’s own choice: US

By: News Desk
Published: 10:27 PM, 14 Jun, 2023
Paying in Chinese currency for Russian oil is Pakistan’s own choice: US
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The United States has said that Pakistan’s decision to pay in Chinese currency for imported Russian oil is Islamabad’s own choice, adding that it does not have sanctions against Moscow’s energy exports to other countries, reported 24NewsHD TV channel.

During a news briefing in Washington on Tuesday, US State Department spokesperson Matthew Miller was asked to comment on Pakistan getting oil from Russia and paying it in Chinese yuan instead of US dollars. ‘‘Is dollar becoming very weak internationally? Is that one of the signs, that a good, close ally chooses to pay in Chinese currency?’’ he was asked during the briefing.

’‘No, I don’t think so,“ the US spokesperson replied. “In fact, I would say, first of all, with respect to that transaction, we have been very clear that each country has to make its own choices based on its own circumstances in terms of energy imports.

’’But since you asked about that, one of the things that I think is notable about that is that – our understanding is that that Russian oil was sold at a significant discount to market rates.

“And I think it’s a sign of the price cap that the US, with our allies and partners, imposed on Russian oil that has driven down the price for Russian oil so that Russian oil sells well below market prices and, by our estimates, have deprived the Russian government of somewhere around $100 billion in additional revenues that would go to fund their war machine in Ukraine.’’

His comments come after the first cargo of discounted Russian crude oil arranged under a new deal struck between Islamabad and Moscow was unloaded at Karachi Port on Sunday.

The US spokesperson, while answering another question, said that that each country has to make its own choice with respect to its energy imports. ’‘We coordinate with our allies and partners to mitigate the impact of Russia’s sales. And I’ll finally note that the United States does not have sanctions against Russian energy exports to other countries.’’

To another query, Miller said that Washington is aware of the reports involving civilians who will stand trial in military courts for allegedly taking part in 9 May protests in Pakistan, adding the US continued to urge Pakistani authorities to respect democratic principles and the rule of law for all the people as enshrined in the Constitution. And we regularly discuss human rights, democracy, safety, and the protection of journalists and respect for the rule of law with Pakistani officials at the highest levels. That remains a priority for the United States,” he added.

Categories : Pakistan