These are the bonds in Yuani, which will be able to buy Chinese investors. This will facilitate access to money for Russian companies and will open the domestic financial market for China for the first time during a full -scale war. At first glance, the news is not catastrophic because it does not save the Russian economy globally. But the trend itself is very dangerous. Why? Well, in 2022, US and European sanctions closed the Russian borrowers to the world financial markets.
The Chinese banks were then eager to work with Moscow so as not to fall under secondary sanctions. Today, China is less afraid of restrictions, and Yuan is becoming a key tool for supporting the Russian economy. In fact, they finance the murder of Ukrainians. So far, permits for Panda Bond's issue are limited. The Chinese do not want to substitute openly. But they are already looking at options for helping, for example, "Rosatom", which is still not under international sanctions.
The question is how much Russia will be able to attract. The Russian budget deficit for the first half of 2025 amounted to 4. 9 trillion rubles ($ 61 billion). At the end of 2024, the National Tradition Fund remained less than $ 50 billion-this will no longer be enough to cover the hole. To reduce the deficit, Russia plans to cut non -war costs. In particular, subsidies for football clubs, unprofitable sanatoriums and more.
This will give a maximum of $ 25 billion savings or less than half of the right one. For comparison, when the Rusal released "Panda Bonda" in 2017, he attracted only $ 210 million. This is a penny on the extent of the Kremlin's current needs. But the main thing in this story is different. The fact that China is looking for ways to support the Russian economy by yuan confirms the simple truth. China has been and remains an ally of Russia and the enemy of Ukraine.
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