BLUF
China’s strategic support has propped up Moscow amid sanctions—yet Chinese banks, wary of U.S. repercussions, are quietly aligning with Western policies to protect China's global interests.Summary
- Russia is now China's biggest oil supplier.
- Chinese banks are worried about possible secondary sanctions.
- Major Chinese banks are rejecting payments in Yuan.
- Russian importers are using intermediaries to complete transactions.
- China dislikes intermediaries as they increase costs, cause delays, and reduce control over trade.
