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.
  • reksasEnglish
    1·
    9 days ago

    but if they run out before they have paid off the money, dont they have to give it back in some way? At least this sounds like it should have more serious consequences than that.

    • finitebanjo@lemmy.worldEnglish
      2·
      9 days ago

      Its very serious to lose important wartime supplies access. I imagine the general populous isn’t happy either, with goods becoming more restricted than even the USSR.