- Russia’s yuan reserves are nearly depleted due to Chinese banks’ fear of US sanctions.
- Lenders have urged Russia’s central bank to address the yuan deficit, causing the ruble to drop.
- China’s hesitance stems from US threats of secondary sanctions over Russia’s Ukraine war financing.
See: Cuba, Venezuela, Iran, North Korea…
Actually sanctions don’t work at all, what’s happening here is the result of a war of attrition.
Cuba is stubborn and resource efficient, Venezuela is decently resource rich and the sanctions are relatively new, Iran still has some trade partners and is decently rich in resources, North Korea is propped up by China and is kind of an anomaly. Sanctions are rather long term and take certain conditions to work properly, Russia fits those conditions despite them theoretically being resistant to sanctions.
Right, so… they don’t work, they just hurt people. Those are a lot of anomalies which prove the point made.
Nope, most sanctions have a defined purpose even still. The Russian sanctions target their oil export and certain high tech bits of equipment think night vision goggles and cpus. This alone has hindered them rather well in Ukraine to the point id call it an ongoing success. Iran is very similar they just aint as inept as Russia so its been lessened. Venezuela has been on the brink for years now so we’ll see how that works out. And the North Koreans wouldve collapsed five times over by now without China, the operational purpose to the sanctions on them is to basically keep them from getting air and becoming a proper threat. Cuba is just kinda chilling, island nations can just kinda do that sometimes.