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.
  • reksas@sopuli.xyzEnglish
    14·
    3 months ago

    what happens when they run out? do they have to start buying more yans from somewhere else?

    • Valmond@lemmy.worldEnglish
      261·
      3 months ago

      Buy them with what? No one want their rubles 😁and they haven’t enough “stuff” to sell lol.

      • Etterra@lemmy.worldEnglish
        10·
        3 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_Physics@lemmy.worldEnglish
          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.