"But the doors to alternative modes of transfers are closing fast. Russia is now looking to crypto and barter trade."
Huh, I wonder if this is partly why it seems like crypto has been popping back up in the news so much lately.
this post was submitted on 16 Aug 2024
198 points (98.5% liked)
Ukraine
8235 readers
638 users here now
News and discussion related to Ukraine
*Sympathy for enemy combatants is prohibited.
*No content depicting extreme violence or gore.
*Posts containing combat footage should include [Combat] in title
*Combat videos containing any footage of a visible human must be flagged NSFW
Donate to support Ukraine's Defense
Donate to support Humanitarian Aid
founded 2 years ago
MODERATORS
if even the chinese dont support them theyre fucked lol
That uhhh doesn’t seem like good news for the Russian economy
God damn. They're so fucked if this is true.
How closely tied are the banks and the CCP, though?
They are pretty much all mostly government owned. Especially the big ones. The CCP tells them which industries they are supposed to lend to. However they are allowed to choose the companies and also get to do some independent business, if that makes money.
The problem is that Russia is a small fish on the international stage, but the US and EU are massive. All Chinese banks have ties to them and rather not receive secondary sanctions.
Then this sounds like fantastic progress!
It is and it is actually even worse for Russia, as it is not just Chinese, but also Central Asian banks. That makes migrating to Russia for work even worse for them. Russia already has labor shortages, so this will bite badly.
Good progress.