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.
    • skulblaka@sh.itjust.worksEnglish
      101·
      2 months ago

      China is pulling all their funding from Russia due to sanctions. That’s the article we’re in the comments of.

      • ABCDE@lemmy.worldEnglish
        13·
        2 months ago

        Chinese businesses. “All” is not true. And what changes will this result in?

        • skulblaka@sh.itjust.worksEnglish
          5·
          2 months ago

          Uh, Russia will be too broke to continue funding their war offensive in Ukraine, and then if they try to continue it anyway they’ll be too broke to continue functioning as a nation. That’s kind of the point of sanctions. Did you read the article?

          Payment scuffles between Russian companies and Chinese banks have escalated in recent weeks, with nearly all Chinese banks stopping transactions with Russia. Some banks have even returned payments for goods that had already been sent to Russia, out of fear of being targeted by sanctions, a Russian media outlet reported.

          Drop the war, investors return, everyone is happy. If they want to continue the war they better start checking their couch cushions for rubles. That’s what the sanctions are for, that’s what they do. It’s a lever to pull to convince Putin to back off his warmongering without resorting to direct violence against Moscow and, undoubtedly, innocents caught up in it.

          • ABCDE@lemmy.worldEnglish
            13·
            2 months ago

            that’s what they do.

            Again, when has that occurred? Any examples.

                • theprogressivist @lemmy.worldEnglish
                  0·
                  2 months ago

                  The question was answered somewhere along this thread, and you didn’t like the answer. So you can kindly fuck off with your bs.

                  • ABCDE@lemmy.worldEnglish
                    0·
                    2 months ago

                    Funnily enough I can speak to multiple people; nice of you to chime in like that though.

                    Sanctions, such as those on Iran, saw one incremental change (which I acknowledged with “that’s one… example” and gave context). I hadn’t checked the other example yet. Thanks for white knighting like a twat, really helps.

                    Edit: the Sudetenland example is not of sanctions, but lack thereof, so not an example of how sanctions have worked.