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Information Minister in Pakistani-administered Kashmir: Five civilians killed and at least 29 others injured in shelling across the border with India
Israeli Army Radio's diplomatic correspondent quoted a senior Israeli official as saying: So he [Trump] decided to cut off contact. That might still change, but that’s the situation right now
Israeli Army Radio's diplomatic correspondent quoted a senior Israeli official as saying: Trump’s circle told him [Dermer] that Netanyahu was manipulating him, and there’s nothing Trump hates more than being portrayed as someone being played
Senior Palestinian official to Al Mayadeen: Meetings between the Israelis, Egyptians, and Qataris are all centered around the Israeli proposal, which does not guarantee an end to the war [on Gaza]
Senior Palestinian official to Al Mayadeen: “Israel” is threatening to expand the ground offensive if Hamas rejects the proposal
Senior Palestinian official to Al Mayadeen: Hamas rejects the Israeli proposal, viewing it as failing to guarantee an end to the war
Senior Palestinian official to Al Mayadeen: “Israel” is sticking to its proposal, and insists there is no alternative offer on the table for negotiation
Senior Palestinian official to Al Mayadeen: The meetings between the Israelis and the Egyptians and Qataris all revolve around the Israeli proposal
The administration was clearly looking for an off-ramp for this campaign against Ansar Allah, NBC News reports, citing US official
Trump's operation against Ansar Allah cost more than $1 billion, NBC News reports, citing US official

Russia turns to Asia as West sanctions its financial market

  • By Al Mayadeen English
  • Source: Agencies
  • 1 Dec 2022 13:39
  • 3 Shares
2 Min Read

Russia announced that it will embrace the Yuan in exchanges with China as anti-Russia sanctions become increasingly threatening to Russian banks.

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  • Russia embraces Yuan in China trade deals (Getty Images)
    Russia embraces Yuan in China trade deals (Getty Images)

Russia embracing the Chinese yuan has had an effect on several Chinese entrepreneurs, as Russian businesses might now negotiate contracts in yuan rather than the dollar or euro. This is, according to Chinese entrepreneur Wang Min, an exciting "win-win" situation for Chinese and Russian businesses.

The businessman said, "We hope that next year sales in Russia can account for 10-15% of our total sales."

According to Reuters, Wang intended to profit from Russia's speedily "yuanized" economy, as the sanctioned nation looks toward an Asian market for financial stability. He envisions a win-win situation where Chinese exporters lower their currency risks and Russian purchasers have easier access to payment.

To put it simply, the Russia's economic shift toward the east might increase international trade, provide a rising economic counterbalance to the dollar, and curtail Western attempts to exert economic pressure on Moscow.

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Last month, according to exchange data reviewed by Reuters, total transactions in the yuan-ruble pair on the Moscow Exchange soared to an average of about 9 billion yuan ($1.25 billion) per day. In the past, they seldom made more than 1 billion yuan in a single week.

According to Andrei Akopian, managing director of Moscow-based investment firm Caderus Capital, "What happened was that it suddenly became very risky and expensive to keep traditional currencies - dollar, euro, British pounds," referencing the potential sanctions risk of a bank that continued to hold foreign currency deposits.

Akopian argued that "everybody was motivated and even pushed towards the ruble or other currencies including, and first of all, the renminbi." 

Furthermore, Reuters noted that exchange data showed that the yuan-ruble trade reached a total of 185 billion yuan in October, which is more than 80 times the number in February of 2022 when the war in Ukraine started.

Read more: Russia deficit in foreign currency liquidity stabilized: Central Bank

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  • Yuan
  • China
  • Ruble

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Pro-Palestinian protesters march toward the US Immigration and Customs Enforcement (ICE) headquarters, Saturday, April 5, 2025, in Washington (AP)

US House to vote on bill criminalizing boycott of 'Israel'

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  • 3 May 2025
Throughout Operation Prosperity Guardian, current and former US military and intelligence officials expressed disquiet at the enormous “cost offset” involved in battling Ansar Allah. (Al Mayadeen English; Illustrated by Zeinab El-Hajj)

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