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.
  • @EtterraEnglish
    10•2 months ago

    India only cares about India, so maybe they can seek them more LNG or oil. Maybe Rupies are the new Yuan lol

    • @Jiggle_PhysicsEnglish
      2•2 months ago

      yes india is set to take them for all the oil they can, at extremely reduced prices, which isn’t good for russia, but great for india.