South China Morning Post on Nostr: China’s Russia imports, hampered by payment sanctions, drop as exports swell ...
China’s Russia imports, hampered by payment sanctions, drop as exports swell
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China's exports to Russia reached a record high of US$11.25 billion in September 2024, a 16.6% year-on-year increase; imports from Russia fell by 9.2% year-on-year in yuan terms; sanctions from the US and EU complicate Russia's international payments; Chinese state-owned banks halted large-scale transactions with Russia in August 2024; trade between China and Russia hit a record US$240 billion in 2023, a 26.3% increase; China purchased 45% of Russia's coal and 47% of its crude oil exports from December 2022 to September 2024; the Canton Fair highlighted payment risks, with upfront payments now required by Chinese exporters; Russia is seeking a new payment system at the upcoming Brics summit.
#China #Russia #Trade #Sanctions #Economy #Exports #Imports #Brics #CantonFair #Energy
https://www.scmp.com/economy/global-economy/article/3282955/chinas-russia-imports-hampered-payment-sanctions-drop-exports-swell
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China's exports to Russia reached a record high of US$11.25 billion in September 2024, a 16.6% year-on-year increase; imports from Russia fell by 9.2% year-on-year in yuan terms; sanctions from the US and EU complicate Russia's international payments; Chinese state-owned banks halted large-scale transactions with Russia in August 2024; trade between China and Russia hit a record US$240 billion in 2023, a 26.3% increase; China purchased 45% of Russia's coal and 47% of its crude oil exports from December 2022 to September 2024; the Canton Fair highlighted payment risks, with upfront payments now required by Chinese exporters; Russia is seeking a new payment system at the upcoming Brics summit.
#China #Russia #Trade #Sanctions #Economy #Exports #Imports #Brics #CantonFair #Energy
https://www.scmp.com/economy/global-economy/article/3282955/chinas-russia-imports-hampered-payment-sanctions-drop-exports-swell