Chinese banks are refusing to work with sanctioned financial institutions in Russia
| The ruble also dropped against the Chinese currency, the yuan, prompting Chinese exporters concerned about losses in doing business with Russia to suspend sales on Russian e-commerce platforms.
Now trade between Russia and China faces another barrier after most Chinese banks terminated their relations with Russian credit institutions.
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| hinese banks are refusing to work with sanctioned financial institutions in Russia.
Among them was Gazprombank, the main outlet for payments of Russia's gas exports. Its inclusion on the list was a factor in the Russian currency, the ruble, plunging to its lowest level against the U.S. dollar for 32 months.