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Foreign Affairs

TexasTowelie

(115,253 posts) Mon Jul 22, 2024, 04:46 PM Jul 22

Russian Ruble Dead as a Global Currency as Sanctions Force China to Stop Making Payments - Joe Blogs

In December 2023 the USA clamped down on Chinese and Indian financial institutions making and receiving payment to and from Russia. The risk of Secondary Sanctions has reduced the amount of payments being processed and this has now been made worse by the clampdown on smaller institutions announced in June 2023. This has resulted in Russia struggling to receive and make payments and this is now damaging the Russian Economy. In addition countries are refusing to deal in Rubles meaning that it is now DEAD as a Global Currency. In this video I provide more details and discuss the problems that Russia is now facing.