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.
  • Etterra@lemmy.worldEnglish
    10·
    12 days ago

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

    • Jiggle_Physics@lemmy.worldEnglish
      2·
      11 days 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.