Implications of Putin's Trip to China on Trade and Financial Transactions

Putin's recent trip to China with high-ranking Russian officials, including the Deputy Prime Minister, Defense Ministers, and the Central Bank Chair, signifies a shift in focus towards local currencies in Russian-Chinese trade, away from Western currencies. The visit hints at discussions beyond trade matters, possibly involving ensuring economic sectors are shielded from sanctions. This move is a response to US threats of sanctioning Chinese banks conducting transactions with Russia, highlighting the need for alternative transaction systems.