Russia’s central bank opened its first overseas office in Beijing on Thursday, marking a small step forward in forging a Beijing-Moscow monetary alliance to bypass the US dollar in the global monetary system.
It was part of agreements made between the two neighbours to seek stronger economic ties since the West brought in sanctions against Russia over the Ukraine crisis and the oil-price slump hit the Russian economy.
Will warmer ties between US and Russia leave China out in the cold?
The opening of a Beijing representative office by the Central Bank of Russia was a “very timely” move
source http://www.omnipopmag.com/2017/03/16/russian-central-bank-opens-first-overseas-office-in-beijing/
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