Russia's Economy in Jeopardy as Chinese Banks Withdraw and Western Sanctions Increase
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US (2 / 1) 26.03.2024 10:50 von Silia Symbolbild imago
Russia Seeks Solutions
Despite these setbacks, Russia remains optimistic. Kremlin spokesman Dmitry Peskov sees the situation as surmountable and blames the West for the problems. The US sanctions, particularly against banks supporting Putin, pose a challenge. However, it is not only Chinese banks that are feeling the pressure from the West. Financial institutions in the United Arab Emirates, Turkey, and Austria are also withdrawing from business with Russia, for fear of sanctions. The US is putting strong pressure on the Austrian Raiffeisen Bank International (RBI) to prevent a billion-dollar deal involving Russian oligarch Oleg Deripaska.