Russia, China discuss creation of sanction-resistant joint bank

Representatives of Russia and China are discussing the creation of a joint bank, which will be resistant to Western sanctions and will allow making payments between the countries in a closed mode, said Alexei Maslov, Director of the Institute of Asian and African Countries at Moscow State University.

According to him, this project is still at an early stage, but it has already caused a lively discussion in the Chinese business environment, Caliber.Az reports, citing Russian media.

“It is important for them to sell their goods. Especially in the north-east of China, there are hundreds, if not thousands of firms that are completely refocused on working with Russia. Now the losses for them are enormous,” Maslov explained.