this post was submitted on 07 Sep 2024
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  • Russia's yuan reserves are nearly depleted due to Chinese banks' fear of US sanctions.
  • Lenders have urged Russia's central bank to address the yuan deficit, causing the ruble to drop.
  • China's hesitance stems from US threats of secondary sanctions over Russia's Ukraine war financing.
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[–] mindlight@lemm.ee 25 points 2 months ago (7 children)

Well... India is still a partner so Putin still has that...

[–] fuckingkangaroos@lemm.ee 33 points 2 months ago (5 children)

India is taking advantage of the situation.

It's understandable that a developing country wants cheap energy, also genuinely sad the world's largest democracy is funding a dictator's barbaric land grab.

[–] mindlight@lemm.ee 16 points 2 months ago (2 children)

India is financially supporting colonization of Ukraine by doing business with Russia.

India is supporting colonization.

[–] BakerBagel@midwest.social 9 points 2 months ago

All India cares about is getting oil and gas for as cheap as possible. Russia has limited markets they can sell their oil to, so India now has tons of leverage and can set their own price. India has their own territorial conflicts with Pakistan and China that they need to worry about. They dont care what Russia does so long as they keep getting cheap oil.

[–] ABCDE@lemmy.world 1 points 2 months ago

The boot is on the other foot now, I guess.

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