Omary - Msamalia
JF-Expert Member
- Jan 19, 2020
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Russia has said it is banking on China’s help to withstand the crippling economic sanctions placed by Western nations over the war in Ukraine as the United States warned Beijing not to provide that lifeline.
Russian Finance Minister Anton Siluanov said sanctions had deprived Moscow of access to $300bn of its $640bn in gold and foreign exchange reserves, and added that there was pressure on Beijing to shut off more.
“We have part of our gold and foreign exchange reserves in the Chinese currency, in yuan. And we see what pressure is being exerted by Western countries on China in order to limit mutual trade with China. Of course, there is pressure to limit access to those reserves,” he said on Sunday.
“But I think that our partnership with China will still allow us to maintain the cooperation that we have achieved, and not only maintain, but also increase it in an environment where Western markets are closing.”
Mtu anakaa Mbagala au Yombo anaanza kusema vikwazo haviumizi, sijui China atamsaidia Urusi, kukwepa Maumivu, 50% mabenki yanaogopa kutrade
Russian Finance Minister Anton Siluanov said sanctions had deprived Moscow of access to $300bn of its $640bn in gold and foreign exchange reserves, and added that there was pressure on Beijing to shut off more.
“We have part of our gold and foreign exchange reserves in the Chinese currency, in yuan. And we see what pressure is being exerted by Western countries on China in order to limit mutual trade with China. Of course, there is pressure to limit access to those reserves,” he said on Sunday.
“But I think that our partnership with China will still allow us to maintain the cooperation that we have achieved, and not only maintain, but also increase it in an environment where Western markets are closing.”
Mtu anakaa Mbagala au Yombo anaanza kusema vikwazo haviumizi, sijui China atamsaidia Urusi, kukwepa Maumivu, 50% mabenki yanaogopa kutrade