The Chinese yuan has become a key currency for Russia's trade settlement. But tightened US sanctions are freezing and delaying yuan payments, Bloomberg reports. Russia is eying alternative payment systems, including cryptocurrency, to bypass Western sanctions.
Several unnamed major Russian commodity exporters told Bloomberg that trade with China has become increasingly difficult as even direct payments made in the yuan are getting frozen or delayed.
#russian-trade-settlement #chinese-yuan #us-sanctions #alternative-payment-systems #western-sanctions
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