Russian banks say they've run out of yuan as Chinese firms pull away from the nation
Russian banks say they've run out of yuan as Chinese firms pull away from the nation
Payment scuffles between Russian companies and Chinese banks have escalated in recent weeks, with Chinese firms pulling back amid fear of sanctions.
- 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.
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Edit my comment to add the Iran example
That's one reduction in sanctions example, which does not stand to this day and has seen the country distancing itself further than ever.
You asked for an example of a country changing its attitude, that is what happened in Iran to negotiate the nuclear deal. Now you are moving the goal posts and claiming that it wasn't sufficiently successful in the long run. That may well be, but it has nothing to do with the presence or absence of sanctions.
I also want to point out that sanctions often work far more subtly than what you imagine. If six months from now, Ukraine and Russia engage in successful peace talks, sanctions will certainly have played a role in shifting Russia's position closer to that of Ukraine, but on the surface it will be impossible to tell by how much.
Sure, I said it was one example, I just added context afterwards. I also asked for examples, not just one which has seen zero other impact except hurting the citizens.
No need to guess about what might happen, we can look at past sanctions instead.
But it has seen an impact, it resulted in the JCPOA