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Chinese banks turn away Russian traders in blow to Putin's wartime economy

Por: Newsweek World August 13, 2024

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Russian traders have become further frustrated in recent weeks, as even local Chinese lenders have stopped processing transactions to avoid U.S. sanctions over President Vladimir Putin's invasion of Ukraine.As many as 98 percent of Chinese banks are rejecting direct Chinese yuan payments from Russia, the Russian newspaper Izvestia reported Monday, citing business representatives.Since January, an increasing number of large financial... + full article



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