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Did China Float a Bailout Offer for Crisis-Hit Russia?
Currency tumbling even after boosting interest rates. Foreign-exchange reserves running down. Access to the International Monetary Fund for aid unlikely. Where can Russia turn for help? One-time Cold War ally China already proved a help earlier this year, signing a three-decade, $400 billion deal to buy Russian gas. While no specific bailout offer has been announced by China’s government for crisis-hit Russia, Premier Li Keqiang did this week extend a public offer of assistance. “To help counteract an economic slowdown, China is ready to provide financial aid to develop cooperation,” Li said in reference to the ... (full story)