Posted on 02/28/2022 12:20:41 PM PST by simpson96
Call this one the Mother Of All Signals, if true. China’s financial entities have cut off credit for Russian energy sales, Bloomberg reports, following an avalanche of Western sanctions over Vladimir Putin’s invasion of Ukraine:
Singapore’s biggest banks are restricting trade financing for Russian raw materials, as the war in Ukraine spurs lenders in Asia’s largest energy and commodities trading hub to reduce exposure to the sanction-hit country. …
DBS Group Holdings Ltd., Oversea-Chinese Banking Corp. and United Overseas Bank Ltd. have stopped issuing letters of credit involving Russian energy deals because of uncertainty over the course of sanctions, according to the people, who asked not to be identified as the information isn’t public.
A choke on trade financing in a top commodities hub such as Singapore could snarl the trade of some physical cargoes and add further pressure to prices, even though the U.S. and European Union sought to exclude energy from the latest round of new sanctions.
It’s not just Singapore, but China itself. Singapore is apparently responding to that signal:
Lenders in the city-state, a key trading hub for commodities trade and finance in Asia, join at least two of China’s largest state-owned banks and some banks in Europe in restricting the ability to purchase Russian commodities.
(Excerpt) Read more at hotair.com ...
very surprising.
This may turn out to be a NWO trap set and sprung on Russia…
China wants to see the US, Russia, and northern Europe evaporate eachother and then waltz in and rule what’s left of the world.
It’s looking like that more each day.
We tricked them into invading Ukraine from 4 directions.
“China wants to see the US, Russia, and northern Europe evaporate eachother and then waltz in and rule what’s left of the world.”
—
Biggest problem with that plan is it gets incinerated with everyone else if the nuke SHTF.
Oh well I guess the cockroaches win in the end.
Yup...they’ll do it under the table.
I wonder how much we promised to give them.
beat me to it!
Maybe it’s the chinese opportunity to take care of some business along the Russia-Chinese border. Never let a crisis go to waste.
The Chinese may see opportunity in Russian territory as better long term gains.
No, this says nothing about the relationship between Russia and China. This says everything about the relationship between the SWIFT system and Chinese banks. Russia will get paid. China just can’t risk being locked out of SWIFT.
Bawhaha dumb Putin fell for china’s ...I’ll have your back buddy! China is up to something! Xi is watching how the world leaders are turning on Rasputin and doesn’t want any part of this....for now. Mark my words watch China pull away from the notion of invading Taiwan. The economical consequences are too perilous for China.
The expansionist crazed thug Putin really miscalculated. They all keep believing their own BS and surrounding themselves with yes men until the final SUPER SCREWUP that crashes it all down.
Uh, Singapore is not China. Singapore Banks are not Chinese Banks
As to the Bank of China in Singapore, its a wholly-owned subsidiary of Bank of China, and being in Singapore, its a Singapore company. It will face the same US$ transfer sanctions to Russia as any other US or European bank - thus it will not be financing US$ trade with Russia.
It just gets better and better. Buy energy.
I wonder what they were bribed with?
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