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.
    • ABCDE@lemmy.worldEnglish
      14·
      9 days ago

      Do you mean the lack of sanctions was responsible for WWII? Quite hard to see what sanctions could have been put in place without globalisation as we see it today.

      • InvertedParallax@lemm.eeEnglish
        1·
        8 days ago

        The lack of response was responsible for WW2.

        So maybe the true lesson is that we need to get even more involved on the ground in Ukraine.