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.
    • fuckingkangaroos@lemm.eeEnglish
      1·
      13 days ago

      India is taking advantage of the situation.

      It’s understandable that a developing country wants cheap energy, also genuinely sad the world’s largest democracy is funding a dictator’s barbaric land grab.