Explainer-China, Russia vulnerable to dollar risks as sanctions from West multiply

[ASFN Admin]

Russian Foreign Minister Sergei Lavrov began a visit to China this week with a call for Moscow and Beijing to reduce their dependence on the dollar and Western payment systems, and push back against what he called the West's ideological agenda. It comes after years of souring relations between the United States and China over trade and national security issues, and long-standing tensions between Russia and the United States. In the latest development, the United States, European Union, Britain and Canada on Monday imposed sanctions on a handful of Chinese officials for alleged human rights abuses in Xinjiang, opening the door to potential joint penalties.

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