Russian central bank, sovereign fund may hold $140 billion in Chinese bonds – ANZ

The News Craving

SHANGHAI (Reuters) – Russia’s central bank and sovereign wealth fund may account for nearly a quarter of foreign holdings of Chinese bonds, analysts at ANZ Research calculated, potentially offering shelter from Western sanctions imposed over Moscow’s invasion of Ukraine. Russia’s financial markets have been thrown into turmoil by sanctions imposed over the invasion, the biggest attack on a European state since World War Two. In the face of those sanctions, Russian companies have been exploring workarounds with emerging market allies, especially China, with settlement of transactions in yuan se…

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