- Jun 20, 2018
- Reaction score
- Miami, FL
- Political Leaning
Russia Says Nearly Half Its Reserves Are Frozen.
LONDON (Reuters) - Russia said on Sunday that it was counting on China to help it withstand the blow to its economy from Western sanctions, which it said had frozen nearly half of its gold and foreign currency reserves.
Russia has lost access to 50% of its reserves ("Russian Finance Minister Anton Siluanov said sanctions had deprived Moscow of access to $300 billion of its $640 billion in gold and foreign exchange reserves, and added that there was pressure on Beijing to shut off more).
So now, Russia needs help. What will happen if China pulls back on helping them?