Rerum Novarum // Intel, Breaking News, and Alerts 🇺🇸

🇺🇸🇷🇺🇨🇳⚡️- Russia's attempt to replace the US dollar with China's yuan in international trade has largely collapsed under pressure from American secondary sanctions, according to Bloomberg. The yuan's share of payments for Russian exports has fallen by half from its 2024 peak to just 22%, despite growing trade between Moscow and Beijing. Chinese banks, fearing American sanctions, have increasingly refused or delayed Russian transactions, which forces businesses to rely on intermediaries and alternative currencies. Russia now receives 69% of its export revenue from Asian countries in rubles. The reversal shows the enormous reach of American financial power and the limitations of China's efforts to establish the yuan as an international alternative to the dollar.