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Congrats idiots, by sanctioning Russia you're causing the unification between Russia and China. How long after the new silk road initiative is completed will US currency no longer be accepted? Russia has gold and minerals, China is the most advanced manufactuing state on the planet! #rusdia #ukraine #china #usdollar

Russian banks rush to switch to Chinese card system | Reuters

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Unknown parent

brilliant as always! Thanks for sharing the link:)
in reply to LPS

In extention this will lead to a weaker Russia. The trading options for Russia will be limited and China can push the prices down. The actual effect is too difficult to predict since it involves many players, but don't expect that China wants to compete with another super power. They will invest as much as they are comfortable with.
in reply to Tiro 🇺🇦

Maybe in the short term, but this may be the push that replaces the US dollar as the reserve currency. When China finishes the silk road and it solidifies it's ties with Africa and the eastern part of Europe. It will then allow them to distribute their products and Russian energy cheaply. This in turn will make it easy for them to demand payment in Chinese Yuan, not US dollars. Anyone that wants/needs Chinese products (the whole world) will be forced to exchange in that standard. Just a though exercise ...
in reply to LPS

Russia will then be able to trade with partners outside of China using the Yuan as their reserve. BRICS has been built up since 2012 for the express purpose of getting outside the US monopoly of the world financial system. How hard is it to imagine all the "enemies" of the empire getting onboard and fast. Venezuela, Iran, North Korea the list gets longer as time goes on.
in reply to LPS

Last point. The current system is a bad deal for EVERYONE in the world except the US, which simply prints funny money whenever it likes.