Money
Chinese banks in Russia have stopped dollar, euro trade settlements, says source
Russian affiliates of Chinese banks have stopped processing settlements for Russia-China trade in dollars and euros. — Reuters pic

MOSCOW, June 13 — Russian affiliates of Chinese banks have stopped processing settlements for Russia-China trade in dollars and euros, a person familiar with the situation at Chinese banks operating in Russia told Reuters today.

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New US sanctions that forced Russia’s leading exchange to halt dollar and euro trading led to a range of varying prices and spreads as trading moved over-the-counter (OTC) today, obscuring access to reliable pricing for the Russian currency. — Reuters

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