Pakistan receives first discounted Russian crude oil shipment in Karachi.
Pakistan has received its first discounted crude oil cargo from Russia, which is expected to help the country deal with its payments crisis and reduce the risk of defaulting on its debt. The deal, which was first reported in April, gives Russia a new outlet for its oil, adding to Moscow's growing sales to India and China. Pakistan's imports of crude are expected to reach 100,000 barrels per day after the first cargo arrives on Monday. There has been no confirmation of how payment would be made, but Pakistan recently announced a plan to allow barter trade with Russia, Afghanistan and Iran.