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Saudi Aramco Says Pump Malfunction Behind Fuel Shortage in Jazan

Saudi Aramco said it is working to fix a technical failure at a pump in Jazan as quickly as possible to provide petroleum derivatives on Wednesday. (File/AFP)
Saudi Aramco said it is working to fix a technical failure at a pump in Jazan as quickly as possible to provide petroleum derivatives on Wednesday. (File/AFP)
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Saudi Aramco Says Pump Malfunction Behind Fuel Shortage in Jazan

Saudi Aramco said it is working to fix a technical failure at a pump in Jazan as quickly as possible to provide petroleum derivatives on Wednesday. (File/AFP)
Saudi Aramco said it is working to fix a technical failure at a pump in Jazan as quickly as possible to provide petroleum derivatives on Wednesday. (File/AFP)

Saudi Aramco announced on Wednesday a malfunction in one of the pumps at the petroleum derivatives distribution station in Saudi Arabia’s southern region.

The state oil giant said its teams were working to fix the issue shortly.

“Our technical teams are working around the clock to fix the technical malfunction, as soon as possible, and provide the petroleum products that the Jazan region needs from the station, without interruption.”

It also said that supplies of petroleum products have gradually returned.

The failure occurred in one of the pumps at the petroleum derivatives distribution station in Jazan and led to a shortage in some petroleum derivatives at a number of fuel stations in the region.

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Russia is Using Bitcoin, Digital Currencies in Foreign Trade

FILE PHOTO: A woman passes by the Bitcoin Monument after bitcoin soared above $100,000, in Ilopango, El Salvador, December 5, 2024. REUTERS/Jose Cabezas/File Photo
FILE PHOTO: A woman passes by the Bitcoin Monument after bitcoin soared above $100,000, in Ilopango, El Salvador, December 5, 2024. REUTERS/Jose Cabezas/File Photo
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Russia is Using Bitcoin, Digital Currencies in Foreign Trade

FILE PHOTO: A woman passes by the Bitcoin Monument after bitcoin soared above $100,000, in Ilopango, El Salvador, December 5, 2024. REUTERS/Jose Cabezas/File Photo
FILE PHOTO: A woman passes by the Bitcoin Monument after bitcoin soared above $100,000, in Ilopango, El Salvador, December 5, 2024. REUTERS/Jose Cabezas/File Photo

Russian companies have begun using bitcoin and other digital currencies in international payments following legislative changes that allowed such use in order to counter Western sanctions, Finance Minister Anton Siluanov said on Wednesday.

Sanctions have complicated Russia's trade with its major partners such as China or Türkiye, as local banks are extremely cautious with Russia-related transactions to avoid scrutiny from Western regulators, according to Reuters.

This year, Russia permitted the use of cryptocurrencies in foreign trade and has taken steps to make it legal to mine cryptocurrencies, including bitcoin. Russia is one of the global leaders in bitcoin mining.

“As part of the experimental regime, it is possible to use bitcoins, which we had mined here in Russia (in foreign trade transactions),” Siluanov told Russia 24 television channel.

“Such transactions are already occurring. We believe they should be expanded and developed further. I am confident this will happen next year,” he said, adding that international payments in digital currencies represent the future.

Earlier this month, President Vladimir Putin said that the current US administration was undermining the role of the US dollar as the reserve currency by using it for political purposes, forcing many countries to turn to alternative assets.

He singled out bitcoin as an example of such assets, saying that no-one in the world could regulate bitcoin. Putin's remarks indicated that the Russian leader backs the extensive use of cryptocurrencies.