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Vladimir Putin's pivot to China is backfiring

Por: Newsweek World September 15, 2024

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Russia's pivot to China has faced multiple setbacks this year as Chinese banks, wary of U.S. sanctions imposed over Vladimir Putin's invasion of Ukraine, are rejecting transactions, forcing Moscow to raise fees on yuan (RMB) transfers.Heavily sanctioned Moscow has benefited from the world's second-largest economy since the Ukraine war began, with bilateral trade rocketing up by 26 percent to a $240 billion high last year, and... + full article



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