Russian banks say they've run out of yuan as Chinese firms pull away from the nation - eviltoast
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.
  • finitebanjo@lemmy.worldEnglish
    1·
    2 months ago

    Theres no such thing as bartering between nations, in order to buy from them requires first selling something or having a creditor.

    I’m assuming they have nothing more to sell so they’ll just lose important wartime supplies and general goods access.