Sanctions squeeze. Several large Chinese banks have stopped accepting yuan payments from Russia over the past two months due to fears of secondary U.S. sanctions, Russia’s Izvestia newspaper reported. The list of banks includes Ping An Bank, Bank of Ningbo, China Guangfa Bank, Kunshan Rural Commercial Bank, Great Wall West China Bank, Shenzhen Rural Commercial […]
Daily Memo: Sanctions Impede Russia-China Trade, Rumors of a French Intervention in Ukraine
Fears of U.S. secondary sanctions led several banks to stop accepting yuan payments from Russia.
