In November, deliveries to Russia fell 10.5% compared to 2023, which was the first decline since July.
China’s exports to Russia fell in November, marking the first decline in four months. This was reported by Reuters with reference to data from Chinese customs.
Compared to 2023, deliveries to Russia in November decreased by 10.5%. Imports from Russia during the same period showed a fall of 7.4% in yuan terms, while in October the fall was 4.3%.
It was noted that the Chinese customs department did not provide a breakdown of goods sold in Russia or purchased from Russia. In October, Chinese exports to the Russian Federation grew by 24%, while in September the growth was almost 16%.
Earlier, Russian dictator Vladimir Putin said that the main problem in Russian-Chinese trade is mutual payment settlements, and that the central banks of both countries are working to solve this issue.
We remind you that Chinese banks have started blocking payments to Russian companies through India, UAE and Hong Kong.
VTB State Bank, the only Russian state bank with a full-fledged branch in China, has decided to sharply raise fees for yuan transactions.
Source: korrespondent
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