Western trade restrictions have led to an increased usage of the Chinese yuan at the expense of the greenback, the EBRD has claimed The European Bank for Reconstruction and Development (EBRD) has warned that Russia’s growing trade in the Chinese yuan as a response to Western sanctions could potentially erode the strength of the US…

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Beijing will safeguard its legitimate rights and interests, according to the country’s foreign minister While stating that China will stand up for its legitimate economic interests in the face of Western sanctions, the country’s foreign minister, Wang Yi, has refuted the notion that Beijing is taking Russia’s side in the Ukrainian conflict.