Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Palestinian Ministry of Health: Two were martyred in Israeli shelling that targeted a besieged house in the town of Qabatiya in Jenin
At least 68 dead in migrant shipwreck off Yemen: IOM
Trump: We want to feed the people in Gaza, we do not want them to starve.
US President Donald Trump: We will impose sanctions on Russia if it does not end the war on Ukraine.
Israeli media: Polls show that 52% oppose Prime Minister Benjamin Netanyahu while only 29% support him.
Israeli media: 32% of Americans still support "Israel's" war on Hamas, while 60% oppose it.
Israeli media: Core US support for "Israel" hits its lowest, while support for Palestine reaches its highest levels.
Al Mayadeen's correspondent reports martyrs, injuries in Israeli bombardment of home in Heker al-Jame area in Deir al-Balah, central Gaza.
Al-Quds Governorate: Today, the spatial division of Al-Aqsa Mosque began in a public and dangerous manner, and we warn of a religious war in the region
The Ministry of Health in Gaza: This brings the total number of victims of famine and malnutrition to 175, including 93 children

Yuan and ruble to replace dollar in Pakistan: Pakistani official

  • By Al Mayadeen English
  • Source: Agencies
  • 28 Sep 2022 14:26
  • 7 Shares
3 Min Read

Pakistan, among other nations, is brushing off the US dollar due to sanctions by making way for the Chinese yuan and Russian ruble.

  • x
  • The ruble and the yuan (bigasia.ru)
    The ruble and the yuan (bigasia.ru)

According to TASS citing a statement by President of the Trade House of Pakistan Association Zahid Ali Khan to reporters on Tuesday, replacing the US dollar with Russian rubles and Chinese yuan is a potential plan Pakistan is considering. 

“We are still trading in dollars, which is a problem… We are considering the issue of trading in rubles or in yuan, but the issue is still being finalized,” said Ali Khan, noting that the transition to the two currencies in trade could take place as soon as next year, as he recently participated in the ‘Export Marathon’ international forum in Ekaterinburg, Russia. 

March witnessed major trade cooperation between Russia and Pakistan concerning the import of two million tons of wheat and more significantly the supply of natural gas, especially as then-Pakistani PM Imran Khan met with Russian President Vladimir Putin in February to brainstorm ways in which bilateral trade relations can be bolstered and broadened.

One of those ways, discussed by the two leaders reportedly, was the Pakistan Stream gas pipeline, which was put on the back burner but is intended to be built in collaboration with Russian companies. The 1,100km pipeline that binds Russia and Pakistan was agreed upon in 2015 and is bound to be financed by both nations.

Related News

US uses tariffs to strongarm India on Russia ties

China, Russia launch Maritime Interaction-2025 drills in Sea of Japan

At a meeting with Pakistani Prime Minister Shehbaz Sharif on the SCO sidelines in Samarkand, Putin said: "There are very interesting and large-scale projects. This is the so-called Pakistan Stream. It is about creating the necessary infrastructure for the supply of liquefied natural gas. We are talking about the supply of pipeline gas from Russia to Pakistan — and this is also possible, bearing in mind that part infrastructure has already been created — Russia, Kazakhstan, and Uzbekistan. We need to resolve the issue with Afghanistan". 

Russian-Pakistani relations have been growing with time, as just last month, Putin congratulated Pakistani PM Shehbaz Sharif and Pakistani President Arif Alvi on the 75th anniversary of Pakistan's independence, noting active cooperation in counter-terrorism. In a telegram sent to the Pakistani leadership, Putin expressed trust that the cooperation between Russia and Pakistan will continue to expand.

According to him, the Pakistani market is interested in the supply of Russian goods, including chemical and pharmaceutical products. “In the near future, we see very great prospects for the development of relations between Russia and Pakistan. Especially, of course, [Pakistan is interested that] Russia exports chemical products, technical products, paper… we need pharmaceuticals. These are issues that are being worked out now,” Zahid Ali Khan explained.

Other countries, such as Venezuela and Turkey, have also adopted the idea of dealing with the ruble currency in which the former welcomed the wider use of the Russian ruble, with hopes to restore the flow of tourists from Russia in the near future and the latter encouraged the use of rubles to pay for Russian gas.

In regards to China, Islamabad and Beijing reiterated their strong support for each other’s interests and commitment to deepening their strategic relations last May, as both sides agreed on the need for stronger collaboration in the areas of tourism, education, finance, and information technology. 

  • Russia
  • Yuan
  • Pakistan
  • Ruble
  • Trade

Most Read

A rescued crew member from the ETERNITY C vessel in a video released by the Yemeni Armed Forces on July 28, 2025 (Yemeni Military Media)

Yemen Navy reveals fate of targeted Eternity C ship crew

  • Politics
  • 28 Jul 2025
An Israeli tank explodes following an ambush by al-Qassam Brigades in Gaza, Occupied Palestine, undated (Al-Qassam Military Media)

Al-Qassam strikes Israeli vehicles in Gaza, inflicts casualties

  • Politics
  • 30 Jul 2025
UAE lodges complaint against Israeli ambassador over 'misbehavior'

UAE lodges complaint against Israeli ambassador over 'misbehavior'

  • Politics
  • 1 Aug 2025
Protesters chant anti-Israeli slogans as they carry a banner that reads:" Freedom for Palestine, Alliance stop the war," during a demonstration in support of Palestinians in Gaza, outside the Israeli embassy, in Athens, Monday, June 9, 2025 (AP)

Athens mayor slams Israeli ambassador over Gaza war, graffiti claim

  • Politics
  • 3 Aug 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
A member of the al-Qassam Brigades, the armed wing of Hamas, takes part in a parade as he celebrates a ceasefire agreement between Hamas and the Israeli regime in Deir al-Balah, Gaza Strip, Sunday, January 19, 2025 (AP)
Politics

Al-Qassam: We’ll allow aid to Israeli captives if Gaza siege ends

Freed Lebanese freedom fighter Georges Abdallah during an interview on Al Mayadeen, which aired on Sunday, August 3, 2025 (Al Mayadeen screengrab)
Politics

Exclusive: Resistance key to building state, Georges Abdallah says

United Nations Secretary General Antonio Guterres gives a statement about the situation in Gaza at UN headquarters, Friday, June 27, 2025 (AP)
Politics

UN warns Gaza faces water crisis, looming famine under Israeli siege

Israeli soldiers drive their armored personnel carrier along the Gaza Strip, in southern occupied Palestine, Wednesday, July 30, 2025 (AP)
Politics

Ex-Israeli general says Gaza starvation campaign isolated 'Israel'

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS