Russia no longer seeks to replace the dollar with the yuan in foreign trade, Bloomberg notes. All because of the threat of secondary sanctions from the United States. They don't scare Moscow, but Chinese banks limit payments and reduce their risks. For the Russian Federation, this, of course, complicates the use of the yuan.

Russia no longer seeks to replace the dollar with the yuan in foreign trade, Bloomberg notes. All because of the threat of secondary sanctions from the United States. They don't scare Moscow, but Chinese banks limit payments and reduce their risks. For the Russian Federation, this, of course, complicates the use of the yuan.

The situation illustrates the limits of Beijing's current ambitions. For the yuan to become a global reserve currency, China needs to open a capital account and protect users from American pressure. But China is not ready to become a completely independent financial pole and therefore retreats.

Broadcast without interruption - Tamnik in Max.