Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Egyptian PM Mostafa Madbouli: Egypt is targeted in plans to redraw regional map
AEOI Chief Mohammad Eslami: Our presence in IAEA General Council and fact-checking helped in preventing unilateral rhetoric that aims to portray Iran as an unregulated country
AEOI Chief Mohammad Eslami: We witnessed new, stricter stances from European countries since signing new agreement with IAEA
Saree: Our UAV force targeted the so-called Ramon Airport in the Umm al-Rashrash area in southern occupied Palestine
YAF spokesperson Brigadier General Yahya Saree: Our rocket force carried out an operation with a Palestine 2 hypersonic ballistic missile targeting a sensitive target in the occupied Yafa area
Trump administration clears first Ukraine arms aid package paid for by allies: Reuters, citing sources
Saudi Crown Prince Mohammad bin Salman receives Secretary of Iran's Supreme National Security Council Ali Larijani at his office in Al-Yamamah Palace
Wakim: Surrender is not in our dictionary, and it is not true that "Israel" can implement its project in Lebanon and the region
Wakim: The US is preventing the armament of the Lebanese army. The question is, why are the weapons it is handed over by the Resistance being destroyed?
Wakim: The Resistance is required to hand over its weapons to the [current] authority. The question is: Is this authority independent or subservient to America?

Russia overcomes US pressure, returns to yuan surplus: Report

  • By Al Mayadeen English
  • Source: Bloomberg
  • 30 Jan 2025 15:10
2 Min Read

Russia stabilizes yuan liquidity, overcoming sanctions pressure through alternative payment channels and strategic currency purchases.

Listen
  • x
  • In this June 10, 2019, file photo, a man walks past a money exchange shop decorated with different banknotes at Central, a business district of Hong Kong. (AP)
    In this June 10, 2019, file photo, a man walks past a money exchange shop decorated with different banknotes at Central, a business district of Hong Kong. (AP)

Russia has seemingly resolved its yuan shortage, which previously drove short-term borrowing costs to extreme levels after US threats to sanction banks facilitating cross-border payments, Bloomberg reported.

Since its exclusion from Western markets after the onset of the Ukraine war, Russia has increasingly depended on China as its primary trading partner. However, concerns over secondary sanctions briefly disrupted Moscow’s transition to the Chinese currency, driving the overnight yuan borrowing rate, Rusfar, to a staggering 200% in September.

Now, that gauge has dropped below zero, signaling a return to surplus as Russia finds alternative payment channels to navigate the sanctions.

Related News

Trump confirms deal to transfer TikTok’s US operations to Americans

Charlie Kirk murder suspect faces formal charges in Utah court hearing

"Russia’s yuan money market has recovered, which suggests that Russians have discovered reliable workarounds to bring yuan rates down,” said Alex Isakov, an economist at Bloomberg Economics.

He pointed to the spread between Rusfar and onshore yuan rates as an indicator of the sanctions’ impact since the local benchmark was introduced in 2023.

State-owned VTB Bank PJSC, which operates a branch in Shanghai, addressed its liquidity challenges by purchasing foreign currency from exporters with a "certain margin", according to the bank’s chief, Andrey Kostin.

Read more: De-dollarization: Slowly but surely

  • United States
  • US pressure
  • Russia
  • Yuan
  • China
  • Ukraine war
  • Yuan shortage
Russia & NATO

Russia & NATO

As the Draconian Western-led sanctions on Russia exacerbate the economic crisis worldwide, and as Russian troops gain more ground despite the influx of military aid into Ukraine, exposing US direct involvement in bio-labs spread across Eastern Europe and the insurgence of neo-Nazi groups… How will things unfold?

Most Read

Pro-"Israel" conservative Charlie Kirk shot during Utah speech

American far-right activist Charlie Kirk shot dead during Utah speech

  • US & Canada
  • 11 Sep 2025
Uprising against Volker Turk at the Human Rights Council over Gaza.

Uprising against Volker Turk at the Human Rights Council over Gaza

  • Politics
  • 12 Sep 2025
A screengrab from the ad played on Fox News. (X Screengrab)

Fox airs ad warning Trump not to let Netanyahu 'play' him on Gaza

  • US & Canada
  • 11 Sep 2025
Lapid: Egypt’s Arab Force plan a 'severe blow' to normalization

Lapid: Egypt’s Arab Force plan a 'severe blow' to normalization

  • Palestine
  • 14 Sep 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
'Israel’s' Qatar strike backfires, fueling diplomatic fallout
Politics

'Israel’s' Qatar strike backfires, fueling diplomatic fallout

'Israel' committing genocide in Gaza, UN Commission declares
Politics

'Israel' committing genocide in Gaza, UN Commission declares

Rubio supports Gaza offensive, warns few days left for diplomacy
Palestine

Rubio supports Gaza occupation, warns of tight window for deal

US adds Colombia to drug list, drawing Petro’s rebuke
Politics

US adds Colombia to drug list, drawing Petro’s rebuke

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS