Thursday, April 11, 2024
Russia’s Central Bank Bets on Chinese Yuan Amid Sanctions Squeeze
In a revealing update from Russia’s central bank, it’s become clear that amidst ongoing international tensions, the Chinese yuan is emerging as a crucial asset for Russia’s reserve holdings. According to a Bloomberg News article, the Russian financial authority has expressed a lack of viable alternatives to the yuan following the economic repercussions of the Kremlin’s actions in Ukraine and subsequent international sanctions