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Author: KASWAR KLASRA
KASWAR KLASRA
Kaswar Klasra is the Editor-in-Chief of The Islamabad Telegraph, where he leads high-impact coverage at the intersection of financial diplomacy, global trade policy, and strategic affairs spanning Asia, the Middle East, and the West.
Pakistan’s historic first international payment in Chinese yuan for discounted Russian crude oil marks a significant milestone in the country’s economic relations. The move highlights Pakistan’s strategic efforts to diversify its currency reserves and reduce reliance on the US dollar, aligning with global trends of de-dollarization. Trading in yuan offers Pakistan benefits such as easing pressure on foreign exchange reserves, mitigating currency risks, and potentially attracting foreign investment in the face of a decline in Western countries’ investments. Pakistan recently made history by conducting its first international payment in Chinese yuan, marking a significant milestone in the country’s economic…