The Russian government hopes China will be able to provide support by extending aid after economic sanctions were imposed by Western powers that caused its gold and foreign currency reserves to be frozen.
In an interview, Russian Finance Minister Anton Siluanov clearly stated that the Moscow government expects help from China to reduce the impact of economic sanctions imposed.
According to Siluanov, it hopes its good relations with the Chinese government can give an advantage to Russia, which has gold and Yuan currency reserves, despite severe economic sanctions by Western powers.
It is common knowledge that Western powers have imposed sanctions on Russian corporate companies and financial institutions since the country acted to invade Ukraine on February 24.
As a result, sanctions imposed on Russia have resulted in a total of US $ 300 billion of $ 640 billion of assets in gold and forex reserves being frozen.
In addition, Moscow over the past month has only covered the economy with existing reserves, besides also considering offering Euro bonds to foreign investors when market volatility subsides.
However, good relations between the two countries are seen to be able to give an advantage to Russia, especially since the meeting between Vladimir Putin, President of Russia and Xi Jinping, President of China, in Beijing on February 4 and strengthened the ties of cooperation between the two superpowers. .
In the meantime, Siluanov said Russia will continue to carry out its obligation to pay debts to creditors in Russian Rubles while its federal reserves are frozen.
