Free Trial

MNI BRIEF: China Will Not Impose Financial Sanctions On Russia

MNI (Singapore)
BEIJING (MNI)

China will not participate in financial sanctions against Russia and will keep normal trade and financial cooperation, Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission (CBIRC) said on Wednesday in a briefing to reporters.

China disagrees with financial sanctions, particularly unilateral ones, which are “not good” and lack a legal basis, said Guo, also party chief of the People’s Bank of China (PBOC)., see: MNI: Select Russian Banks Barred From SWIFT By U.S. And Allies

Sanctions would limitedly impact China’s financial sector and the economy which are resilient and stable, he said.

True

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.