Russian banks say they've run out of yuan as Chinese firms pull away from the nation
Russian banks say they've run out of yuan as Chinese firms pull away from the nation
markets.businessinsider.com Russian banks say they've run out of yuan as Chinese firms pull away from the nation
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.
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Do you feel that Putler? That's the walls closing in.
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