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  • Russia's top banks have started lending out yuan and transferring China's currency outside the SWIFT system

    From markets.businessinsider.com

    Russia's top banks have deepened their ties to China's currency and financial system as Western sanctions keep Moscow shut out from global networks. Sberbank said Tuesday it has started lending out money in yuan as it looks to replace dollar and euro transactions. "I don't think Russia will return to such a situation of the dollar's influence on the domestic economy," Sberbank CEO German Gref said at Russia's Eastern Economic Forum in Vladivostok, according to Reuters. VTB also said Tuesday that it is the first Russian bank to launch money transfers to China via the yuan outside the SWIFT messaging network, which is ... (full story)

  •  Guest
  • | IP XXXX:f3a9:a6d
😂🤣😂🤣🤡
This is so funny bcuz the only countries that will benefit from a transaction like that are the countries involved. And how many Russian businesses are accepting Chinese yuan and vice versa how many Chinese businesses are accepting Russian roubles? It's bilateral trade only and not newsworthy so stop putting out as such.
  •  Guest
  • | IP XX.XXX.27.109
Russia and China are now doing currency changes. They will probably sort out the transfer processs and increase their trade. I think the world will be changing, and soon.
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  •  Guest
  • | IP XX.XXX.148.127
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  • Story Stats
  • Posted: Sep 8, 2022 1:35am
  • Submitted by:
     Newsstand
    Category: Fundamental Analysis
    Comments: 2  /  Views: 2,750