Russia's financial strategy is undergoing significant changes amid Western sanctions, with the country increasingly turning to China for economic support. The Russian Finance Minister, Anton Siluanov, disclosed that discussions with China regarding the possibility of securing loans in yuan have been ongoing since late 2023, though no definitive decision has been reached yet. This move is part of Russia's broader effort to de-dollarize its economy, a goal that has gained momentum as Russian exports in yuan have overtaken those in the U.S. dollar. Additionally, Russia has threatened to retaliate against the West if its foreign assets are seized, with Siluanov warning of a symmetrical response. This includes potential repercussions for Western companies still operating in Russia, as they might face asset confiscation on Russian territory. Dmitry Medvedev also emphasized targeting the economy of Russia's 'enemies' in response to sanctions. The situation underscores the deepening financial ties between Russia and China, as well as the escalating tensions between Russia and Western countries, especially concerning the confiscation of Russia's frozen cash that Ukraine seeks for reconstruction.
#Russia plans to take out a loan in yuan from #China - Reuters "Negotiations with Chinese partners have been going on for a long time. There is no solution yet. We discussed this topic at the end of last year at an inter-ministerial dialogue," the publication quotes Russian… https://t.co/7Rvkcfhq5B
Russia struggling to secure a loan from China, Putin ally admits https://t.co/pQRJU6bPKT https://t.co/vmPr3F8GQT
#Russia | Finance Minister Anton Siluanov warned that Russia would retaliate in kind to any actions taken by Western countries against its assets abroad. https://t.co/UUByCdvxOK
Russia finance minister says in talks with China on yuan loans - Reuters https://t.co/pRHwhhCJci
New ultimatum. Russian finance minister Siluanov said Russia will respond "symmetrically" to confiscation of its frozen cash that Ukraine wants to get for reconstruction. This means Western companies that haven't left Russia yet might lose their assets on Russian territory.
Russia is discussing with China the possibility of taking out loans in Yuan, but there has been no decision yet, Russian Finance Minister Anton Siluanov said. He reiterated that any actions with Russian assets abroad will receive a symmetrical response. https://t.co/JXJRxVVPJY
Russia will hit back at the US and its allies if its foreign assets are seized, says the country's finance minister https://t.co/CCTeGDbscs
#Russia in talks with #China on yuan loans, Russia's finance minister says https://t.co/64ikxolvGU
Russia finance minister says in talks with China on yuan loans https://t.co/P4xA8WZSHm
RUSSIA, CHINA HELD TALKS IN LATE 2023 ON MOSCOW'S TAKING LOANS IN YUAN, SO FAR NO DECISION - RIA CITES RUSSIAN FINANCE MINISTER
Russian FinMin Siluanov: Russia, China Held Talks In Late 2023 On Taking Loans In Yuan, No Decision Reached - RIA
Former Russian leader threatens West with ‘revenge’ Moscow must target the economy of its 'enemies' in response to the sanctions, Dmitry Medvedev said https://t.co/nqortnTp67 https://t.co/mr5LVOzy3W
Russia’s use of the Chinese yuan has overtaken the U.S. dollar in its exports. For years Moscow had tried to de-dollarize its economy, without much success. But Western sanctions have added to the yuan’s appeal. @georgikantchev https://t.co/IK4a1LvOzG https://t.co/IK4a1LvOzG