this post was submitted on 07 Sep 2024
580 points (98.2% liked)

World News

39335 readers
2777 users here now

A community for discussing events around the World

Rules:

Similarly, if you see posts along these lines, do not engage. Report them, block them, and live a happier life than they do. We see too many slapfights that boil down to "Mom! He's bugging me!" and "I'm not touching you!" Going forward, slapfights will result in removed comments and temp bans to cool off.

We ask that the users report any comment or post that violate the rules, to use critical thinking when reading, posting or commenting. Users that post off-topic spam, advocate violence, have multiple comments or posts removed, weaponize reports or violate the code of conduct will be banned.

All posts and comments will be reviewed on a case-by-case basis. This means that some content that violates the rules may be allowed, while other content that does not violate the rules may be removed. The moderators retain the right to remove any content and ban users.


Lemmy World Partners

News [email protected]

Politics [email protected]

World Politics [email protected]


Recommendations

For Firefox users, there is media bias / propaganda / fact check plugin.

https://addons.mozilla.org/en-US/firefox/addon/media-bias-fact-check/

founded 2 years ago
MODERATORS
 
  • Russia's yuan reserves are nearly depleted due to Chinese banks' fear of US sanctions.
  • Lenders have urged Russia's central bank to address the yuan deficit, causing the ruble to drop.
  • China's hesitance stems from US threats of secondary sanctions over Russia's Ukraine war financing.
you are viewing a single comment's thread
view the rest of the comments
[–] [email protected] 15 points 3 months ago (3 children)

what happens when they run out? do they have to start buying more yans from somewhere else?

[–] Valmond 26 points 3 months ago (1 children)

Buy them with what? No one want their rubles 😁and they haven't enough "stuff" to sell lol.

[–] Etterra 10 points 3 months ago (1 children)

India only cares about India, so maybe they can seek them more LNG or oil. Maybe Rupies are the new Yuan lol

[–] Jiggle_Physics 2 points 3 months ago

yes india is set to take them for all the oil they can, at extremely reduced prices, which isn't good for russia, but great for india.

[–] finitebanjo 7 points 3 months ago (2 children)

When they run out then they can't purchase goods from China.

[–] TrueStoryBob 3 points 3 months ago (1 children)

Well, they can, but the cost will get more volatile... super oversimplified, it's the difference between drinking at home booze you bought at wholesale prices and keeping a running tab with a local bar/pub. You'll be subject to the bar and any price changes they (read: the currency markets) want to make.

[–] finitebanjo 1 points 3 months ago

Theres no such thing as bartering between nations, in order to buy from them requires first selling something or having a creditor.

I'm assuming they have nothing more to sell so they'll just lose important wartime supplies and general goods access.

[–] [email protected] 1 points 3 months ago (1 children)

but if they run out before they have paid off the money, dont they have to give it back in some way? At least this sounds like it should have more serious consequences than that.

[–] finitebanjo 2 points 3 months ago* (last edited 3 months ago)

Its very serious to lose important wartime supplies access. I imagine the general populous isn't happy either, with goods becoming more restricted than even the USSR.

[–] [email protected] 2 points 3 months ago

They start using other currencies they have. At some point it will be rubbles. But first it will be currencies their population has.