Payment scuffles between Russian companies and Chinese banks have escalated in recent weeks, with Chinese firms pulling back amid fear of sanctions.
  • Russia’s yuan reserves are nearly depleted due to Chinese banks’ fear of US sanctions.
  • Lenders have urged Russia’s central bank to address the yuan deficit, causing the ruble to drop.
  • China’s hesitance stems from US threats of secondary sanctions over Russia’s Ukraine war financing.
  • TjaEnglish
    25·
    4 months ago

    You can’t avoid that in a dictatorship or oligarchy. You freeze all of their money? They will just steal more from the population.