West’s sanctions affect technical aspects of Russian-Chinese trade, not volume, rates – Moscow

The West’s sanctions affect only technical aspects of Russian-Chinese trade, but not its volume and rates, according to Russia’s Ambassador to China Andrey Denisov. The sanctions are “significantly affecting the process of mutual settlements, payments and obtaining loans for many [Russian] companies,” Denisov said on Wednesday. “The Chinese partners, for whom trade with Western markets, namely the US, is of great economic importance, certainly fear that the sanctions could indirectly impact the Russian partners and as well as their own financial institutions.” Currently, Russia and China are taking steps to increase the share of national currencies in mutual settlements, TASS quoted the envoy as saying.