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Nearly all Chinese banks are refusing to process payments from Russia, report says

submitted by Sal_180 to news 10 monthsAug 16, 2024 12:52:57 ago (+7/-1)     (www.businessinsider.com)

https://www.businessinsider.com/russia-economy-all-china-banks-refuse-yuan-ruble-transfers-sanctions-2024-8



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[ - ] KosherHiveKicker 1 point 10 monthsAug 16, 2024 13:57:46 ago (+1/-0)

Multiple Chinese banks are failing. One of their largest just declared bankruptcy within the last 3 weeks.

China’s Banking System Headed for Crisis, Reports Say

Nearly 40 Chinese banks have disappeared in past month, banking system insolvent, sources say

- https://www.asiasentinel.com/p/china-banking-system-crisis

[ - ] Sal_180 [op] 1 point 10 monthsAug 16, 2024 16:06:28 ago (+1/-0)

Better to not deal with the Russians rather than the west. Russia is a tiny economy

[ - ] SirNiggsalot 0 points 10 monthsAug 16, 2024 12:53:47 ago (+0/-0)

Don't ever trust Chinks