Pakistan paid for its first Russian crude cargo in Chinese yuan. "How will it pay other lenders and how will it finance trade with China if it uses the low yuan reserves to pay for Russian oil?" However, Urals quality is a deterrent, as Pakistan's refineries cannot get as much gasoline and diesel out of Urals crude as they produce from Saudi and UAE crudes. Kpler's Katona expects Pakistan's liquidity issues and technical challenges to weigh on its appetite for Russian crude. "Russian imports into Pakistan will not grow into anything bigger than one cargo per month," he said.

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Persons: Shahbaz Ashraf, Aadil Nakhoda, Nakhoda, Viktor Katona, Zahid Mir, Mir, PRL, Kpler's Katona, Ariba Shahid, Charlotte Greenfield, Florence Tan, Sonali Paul Organizations: Pakistan, United, FRIM Ventures, Karachi's Institute of Business Administration, Saudi, Pakistan Refinery Ltd, Reuters, Thomson Locations: KARACHI, Pakistan, Ukraine, Russia, Saudi Arabia, United Arab Emirates, Islamabad, Moscow, China, PORT, Oman, Saudi Arab, Saudi, UAE, Karachi, Sudarshan, Singapore