but ......here's the BIG news ........wow , big trouble for putinRussian Economy Dealt a Blow by China
Chinese banks have tightened their restrictions on payments from Russia, it has been reported, as sanctions due to Vladimir Putin's full-scale invasion of Ukraine threaten commerce between the countries.
The Russian president has boasted of ballooning trade between the two countries, but the Chinese are becoming increasingly concerned about falling foul of Western sanctions that are intended to choke off Moscow's war machine.
Business newspaper Kommersantreported that restrictions by banks in China have been growing since December 2023, when U.S. President Joe Biden issued an executive order that could deny Chinese institutions access to the U.S. financial system if they have been involved in trade linked to Russia's military industry.
The Russian division of the Bank of China last month stopped processing yuan payments with Russian banks that had been sanctioned by the U.S. ICBC, China CITIC Bank and most other Chinese lenders have made similar moves.
https://www.newsweek.com/china-russia-ruble-yuan-banks-return-decline-transactions-1931494
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but ......here's the BIG news ........wow , big trouble for...
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