Could Russia evade Western sanctions, benefiting China? | DW News

Due to international sanctions against the country, Russia's central bank can't access its foreign reserves of 640 Billion dollars. Ratings agency Fitch says it's at risk of default as a series of debt payments comes due. The Russian government has announced to make payment in rubles, but that would not be accepted on a dollar-denominated bond. If Russia can't make the full and correct payment within thirty days, the country would be considered in default.

Meanwhile, China says the impact of sanctions on Russia will have a limited effect on its own economy. With regards to facilitating trade with Russia after the country's exit from the Swift global payment system. Beijing is offering a workaround using the Chinese CIPS system although it can only process payments in Yuan. The Chinese government also promises support for financial markets to keep them stable amidst ongoing crises.
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00:00 Could Russia soon be in default?
00:29 Russian banks’ access to credit blocked
05:27 China promises to stabilize its financial markets
06:30 What side is China on?
10:44 Nickel price has skyrocketed
13:22 Can Russia evade Western sanctions?
17:02 Where are Ukrainian refugees fleeing to?

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[gsugesuio]

I am sure becoming completely dependent on China will turn out wonderfully for Russia.

[tommyshelby]

Russia debt to gdp ratio is 18%. Where US UK EU India Canada Japan is around 90%.

[eddietat]

Congratulations to Xi Jinping, the new President of Russia!

[krollpeter]

Polish people are Europeans with a big heart! Thank You, Poland!

[myusernameis]

Germany should've never shut down their nuclear power plants.
It should've maintained it, and expand green energy along with it

[worldclassjud]

Does it really matter whether they default or not? Would anyone dare to invest in Russia as long as Putin is in power?

[sodster]

I love how she pronounces "Rubel" like "Rubble"! It suits the state of the currency me thinks.

[matthewhuszarik]

Russia not being able to access their foreign reserves has really thrown a wrench in their plans. If those reserves weren’t in the physical possession of Russia it was a huge tactical mistake.

[johnblaze]

so ...they stole all of russias reserves, ...and now they are askin for interest payment?....insane

[reubenmcmurray]

They can. But China looks out for China.
China will rip out Russia’s eyes if they are aware Russia is relying on them.

[sc]

This just in, Putin changes the name of Ruble to Rubble.

[dhambone]

China, the one country we can all count on. Appreciate supporting your fellow oppressors. Least he's not a fraud.

[KingOfNaraka]

This may seem like a win for Western powers now that they are able to use US $ as weapon. However, other nations will increasingly look for ways to not be as reliable on US $. This is giving China a huge opportunity to elevate their money as an alternative as global currency.

[sergioalvarado]

You can only eat so much Chinese food before you through up///

[ProsandCons]

Wow. Thanks for answering my question. Was a massive surprise to suddenly hear that.

[natbirchall]

Very cool to have a item that discusses what the audience is talking about

[alexlong]

Every expert only look at the causes of the sanctions on the Russian economy. But the sanction has also impact US and Western Banks, Industries and Companies that have exposure to Russian Commodities. US Bond owed by Russia cannot be re- paid because of sanction. Not that Russia has default on their own, but defaulted caused by their Government's action. No ?

[jomo]

Benefits and consequences come together in all things in....countries today are attached like Siamese twins....whether we like each other or not

[j.d.]

She called the Russian currency what it actually is now: Rubble

[nafets]

Siezing and freezing assets a nation leads to distrust of US dollar. I assume other nation see it as a difficult situation when their asset can be easily frozen. Which ultimately divert to other currency