Russia: Big Wall in Dollar Financing:
-Withdraw SDR in RMB-
-Use swap with China-
Russian dollar shortage:
Russia has been frozen in banking assets from Europe, the United States and Japan.
As a result, they are suffering from an extreme shortage of dollar funds.
Russian foreign exchange reserves:
Currently, more than half of the $ 640 billion foreign exchange reserves are frozen.
Central Bank of Russia:
already,
Stopped payments to foreigners for interest payments on government bonds.
External remittance of dollar funds has also stopped.
How to raise Russian dollars:
From now on,
Use IMF / SDR (Special Drawing Rights) $ 24 billion.
There is no choice but to use the China-currency swap agreement of $ 23.7 billion.
“But in terms of money, even if you add both, it’s less than 48 billion.”
Bloomberg
(March 3rd)
The remaining war fund procurement route in Russia is
An article entitled “Cashing SDRs of the IMF into RMB” was published in China.
Russian SDR:
The dollar, euro, pound and yen are frozen and cannot be converted.
Therefore, only Chinese yuan can be used.
Former IMF executive
David Andrews
But China is against Russia
“It may be reluctant to help bypass major sanctions,” he said.
US sanctions China:
China is most concerned about the attitude of the United States.
China is bullish in its usual remarks.
but,
Behind the scenes, it’s completely different.
The United States is flickering “secondary sanctions” against China.
China’s major
Two state-owned banks
“Finance for purchasing goods from Russia” has begun to be restricted.
China is responding cautiously so far.
“But support for energy imports from Russia” will use swap agreements.
Research Institute for Integrated Development
Institute of Financial and Contemporary Industry
Mr. Yoryoku
Chinese assets and yuan in Russian foreign exchange reserves,
It can be an effective means for Russia to prevent the effects of Western sanctions.
World view of Toshiyoshi Katsumata
http://hisayoshi-katsumata-worldview.com/archives/28819039.html
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