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Russian banks say they've run out of yuan as Chinese firms pull away from the nation (markets.businessinsider.com)

submitted 1 month ago by [email protected] to c/[email protected]

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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.

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[–] [email protected] 11 points 1 month ago* (last edited 1 month ago)

Nope, most sanctions have a defined purpose even still. The Russian sanctions target their oil export and certain high tech bits of equipment think night vision goggles and cpus. This alone has hindered them rather well in Ukraine to the point id call it an ongoing success. Iran is very similar they just aint as inept as Russia so its been lessened. Venezuela has been on the brink for years now so we'll see how that works out. And the North Koreans wouldve collapsed five times over by now without China, the operational purpose to the sanctions on them is to basically keep them from getting air and becoming a proper threat. Cuba is just kinda chilling, island nations can just kinda do that sometimes.