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
Al Mayadeen's EU delegate: Belgium categorically refused to touch Russian assets in its banks for fear of a Russian judicial backlash
Al Mayadeen's EU delegate: The European Union has failed to reach an agreement on the use of Russian assets frozen in Belgium
Trump: Will be seeing land action in Venezuela soon
Trump: first question to Xi will be fentanyl
Trump on reports of B1 bombers near Venezuela: Reports are not accurate
Al Mayadeen's correspondent: The death toll from the airstrike that targeted the town of Arabsalim in South Lebanon has risen to two, in addition to four injuries
Al Mayadeen's correspondent in South Lebanon: An Israeli airstrike targeted the town of Arabsalim
Putin on new sanctions against Russia: Russia's energy sector remains confident, though some losses are expected
Putin calls talk of supplying Tomahawk missiles to Kyiv an attempt at escalation
Putin says he discussed with Trump the impact of the situation with Russian oil supplies on global prices, including in the United States

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

Chinese fentanyl kingpin extradited from Cuba to US

Trump comments signal CIA mandate to topple Maduro: Al Mayadeen

"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

From previous scenes of the Qassam Brigades targeting an Israeli D9 bulldozer with a Yassin 105 shell, east of Deir al-Balah. (Military Media of the Qassam Brigades)

US knew fatal Rafah blast cause was not Hamas op., says journalist

  • Politics
  • 20 Oct 2025
Abu Hamza, the spokesperson for the Al-Quds Brigades, during a speech televised on October 22, 2025 (Al-Quds Brigades Military Media)

Al-Quds Brigades' Abu Hamza mourns leaders, vows continued resistance

  • Politics
  • 22 Oct 2025
A woman with her purchased groceries walks out from an underground market, in Beijing, Wednesday, August 6, 2025. (AP Photo/Andy Wong)

Global brands in China face pressure from rising local rivals

  • Economy
  • 17 Oct 2025
US missionary kidnapped in Niger capital, suspected taken toward Mali

US missionary kidnapped in Niger capital, suspected taken toward Mali

  • Africa
  • 23 Oct 2025

Coverage

All
War on Gaza

Read Next

All
Palestinians walk through the destruction caused by the Israeli air and ground offensive in Gaza City, Thursday, October 23, 2025. (AP Photo/Abdel Kareem Hana)
Politics

Unexploded ordnances in Gaza may take 30 yrs to clear, aid group says

Police stand guard before a press conference on the extradition of “Tren de Aragua” gang members from the United States, at the a high-security prison where they are being held in Santiago, Chile, Wednesday, October 1, 2025. (AP Photo/Esteban Félix)
Politics

US immigration policies shaped by false 'Venezuela gang' threats

Demonstrators march at a protest opposing "Operation Midway Blitz" and the presence of ICE, Tuesday, Sept. 9, 2025, in Chicago (AP)
Politics

HRW slams federal agents use of excessive force in Illinois protests

Lebanese President Joseph Aoun meets with the Lebanese Prime Minister Nawwaf Salam ahead of a Cabinet meeting in the Presidential Palace, Baabda, Lebanon, October 23, 2025 (X/ @LBPresidency)
Politics

Lebanon OKs sea demarcation with Cyprus, restarts Block 8 exploration

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