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.
    • asretEnglish
      6·
      2 months ago

      Both graphs are showing the same thing - Russian currency weakening. Your’s just shows how many rubles it takes to buy a dollar (not something you want going up if you’ve got rubles).