Western sanctions are pushing Russia to explore deeper financial links with China, according to Moscow’s deputy finance minister.
Speaking to the FT during a trip to Beijing, Alexei Moiseev said Russia expected to sign a deal this year that would link China’s national electronic payment network into its own soon-to-be-launched credit card system as part of measures aimed at reducing reliance on the west.
The move is just one of a series of new measures aimed at integrating Chinese and Russian financial markets under discussion by Moscow and Beijing. Mr Moiseev candidly said these were being made more urgent by western sanctions on Russia.
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