Chinese banks restrict lending to Russia, dealing blow to Moscow

Fox business ^ | 02/25/2022 | By Megan Henney

[ChicagoConservative27]

Two Chinese state-owned banks will restrict financing for Russian commodity purchases, suggesting there are limits to Beijing's support for Moscow as the Kremlin confronts severe economic sanctions over its attack of Ukraine.

[ChicagoConservative27]

Wonder what that's about? Putin pissing someone off? False flag?

[rbg81]

I guess his relationship with Xi isn’t worth spit.

[nickcarraway]

I have my doubts this is true.

[Army Air Corps]

Hmmmmmmm. That is an interesting wrinkle.

[Textide]

That’s big news if true.

[Thunder90]

These banks do significant business with Western banks, and were themselves facing sanctions. Other Chinese banks are still open for Putin.

[FarCenter]

"Yuan-denominated letters of credit are still available for some clients, pending approval from senior executives."

The Chinese want to trade in their own currency. They can do currency swaps in yuan, avoiding SWIFT. They are prudently limiting their risk.

[ponygirl]

Velly velly inter-dasting.

[Husker24]

They sense he’s losing, the war isn’t going that well. If he loses it will be humiliating and probably cause Putins overthrow or suicide.

[ifinnegan]

It means nothing of the sort.

Why would they put money in a bank that could have assets frozen. It’s ad hoc tactical to not lose money.

[poinq]

Those two banks don’t want to be sanctioned themselves. Russia can get loans if they need them inside of China. Russia is a very rich country now. They have resources for sale in almost every industry.

[9YearLurker]

SOunds like a bit of cover theater...

[DoughtyOne]

Trump could be right. Putin may be a tactical genius, but I
guess he falls short when it comes to being a financial Xinius.

[Jim Robinson]

Very confusing.

[Wallace T.]

I am skeptical of this report as well. I doubt the Russians would have gone into Ukraine in a massive way without the full support of China. At the beginning of the Winter Olympics, Putin and Xi issued a joint statement in support of Russia's action in Ukraine. Besides, China's military are the world's second best, perhaps the best if you discount the negative effect of wokeness on the U.S. military. Under the Manchu dynasty, parts of the Central Asian republics were under Chinese rule. Russia cannot successfully fight a two front war.

[BiglyCommentary]

PR stunt. Other CHICOM banks will on the qt.

[rrrod]

Putin still has Biden.
.lol

[NoLibZone]

I don’t believe this for a second.
Putin has lined up X I and together they will take over the world

[rrrod]

Yep....fog of war maybe.

[PGR88]

China is merely playing along with the western media hype - See!? We are good guys too!

China and Russia are not friends, and they are not enemies. At this point in time, they are in business together, against the USA and Europe.