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G7 warns China about normal trade with Russia: Overreaching again?

June 14, 2024
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At this year's G7 summit, Reuters, citing informed sources, reported that the G7 warned small Chinese banks not to participate in China-Russia trade settlements or face sanctions. While the U.S. secretly buys Russian uranium, it interferes with normal civilian trade between China and Russia, showcasing double standards again. However, in reality, China's small and medium-sized banks do not heavily rely on cross-border transactions involving the US dollar or euro, so even if sanctions are imposed, the impact would be minimal.