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.
  • InvertedParallax@lemm.eeEnglish
    3·
    21 days ago

    The alternative is usually waiting until the other side goes too far and you have to go to war.

    Though in Russia’s case, that would take 5 minutes before they bombed their own kremlin by mistake.