China Pledges To Help The Russian Economy

China Pledges To Help Russia Overcome Economic Hardships -- RT

China’s foreign minister has pledged support to Russia as it faces an economic downturn due to sanctions and a drop in oil prices. Boosting trade in yuan is a solution proposed by Beijing’s commerce minister.

“Russia has the capability and the wisdom to overcome the existing hardship in the economic situation," Foreign Minister Wang Yi told journalists, China Daily reported Monday. “If the Russian side needs it, we will provide necessary assistance within our capacity."

The offer of help comes as Russians are still recovering from the shock of the ruble’s worst crash in years last Tuesday, when it lost over 20 percent against the US dollar and the euro. The Russian currency bounced back the next day, but it still has lost almost half of its value since March.

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More News On China Pledging To Help The Russian Economy

China’s readiness to back up Russia with yuan swap sure sign of trust - analysts -- ITAR-TASS
China Ready to Assist Russia in Solving Economic Problems: Foreign Minister -- Sputnik
China foreign minister says willing to help Russia -- Reuters
China warms up to Russia as West freezes Moscow out -- IBTimes
China Ready To Help Russia With Economic Woes -- Radio Free Europe
China Offers Russia Ruble Help -- WSJ
China Offers Russia Help With Currency Swap Suggestion -- Bloomberg
China ignores EU, offers to help Russia -- EU Observer
China proposes broadening use of Yuan for trade with Russia: report -- Reuters
China Buys Record Russia Crude as Putin Seeks to Avoid Recession -- Bloomberg

My Comment: What China is really doing is this .... China offers to help Russia...and wean the world off the dollar (Yahoo Finance) .... and this .... Ruble Swap Shows China Challenging IMF as Emergency Lender (Bloomberg).