Russia and China Announce New Sino-Russian Financial Structures
Russian President Vladimir Putin and Chairman Xi Jinping
In a move that appears to be in response to Western efforts to disconnect Russia from the SWIFT financial system (which functions as an intermediary and executor of financial transactions between various banks globally) in an attempt to restrain and sanction the financial welfare of Russia, China and Russia have announced that they will develop shared financial structures in order to allow them to strengthen economic ties in a way that will make it impossible for foreign states to intervene or influence.
During today’s talks, President Putin and Chairman Xi Jinping announced their intent to increase the share of national currencies in mutual settlements and to expand cooperation between the two nations in order to provide more...