Free Republic

The situation with Russian payments to China continues to deteriorate: Chinese banks have begun to return about 80% of transfers in yuan to Russia, informed sources told Kommersant. According to them, the Chinese side has been tightening requirements "increasingly" since December 2023. Then US President Joe Biden signed a decree allowing the US Treasury to impose secondary sanctions against credit institutions of third countries for cooperation with Russian sanctioned companies and assistance to the military-industrial complex (MIC). After another tightening of sanctions in June, when the United States included all sanctioned persons, including Russian banks, in the definition of the...