Pakistan will do anything to get cheap oil as its economic crisis drags on — including paying for it in the Chinese yuan

An energy official signaled the country could use the CNY to pay for Russian crude oil, per a report. Pakistan, a country mired in an economic and political crisis, has become the latest to signal using the Chinese currency to make cross-border payments for Russian oil. Islamabad is considering the new payment method for Pakistan's first Russian crude oil order for 750,000 barrels that are scheduled to arrive in the first week of June, The News International, a prominent English-language daily, reported last Friday. The country has been indicating in recent weeks that it wants to snap up Russian oil. Petroleum minister Musadik Malik told Reuters in April that Pakistan will eventually import around 100,000 barrels of Russian crude daily if the first transaction goes smoothly. Pakistan's purchase of Russian oil comes also amid sweeping sanctions against Moscow over its invasion of Ukraine. Countries mired in economic difficulties - like Pakistan and Sri Lanka - have also joined the queue as Russian energy is now being sold at a discount.