Searching for New Instruments of Financial Settlements between Russia and China Amid Expansion of Secondary Sanctions

DOI: 10.33917/es-3.201.2025.42-47

In recent years, relations between Russia and China have reached a new level and received the status of a “comprehensive partnership”. This fact is confirmed by the trade indicators between Russia and China, as well as export and import indicators in the period from 2021 to 2024. However, against the background of the introduction of secondary sanctions by the US and the EU in August 2024 against Russian business partners, Russia and China are forced to look for alternative methods of financial settlements for mutual trade operations, since the previously used methods have ceased to work. New methods of financial settlements today include: settlements through regional banks of China, through third-party intermediaries, the use of cryptocurrency, as well as by opening a foreign branch in the territory of the Russian Federation. However, mediation turned out to be the most acceptable method.

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