Russia’s central bank opened its first overseas office in Beijing on Thursday, marking a small step forward in forging a Beijing-Moscow alliance to bypass the US dollar in the global monetary system.
It was part of agreements made between the two neighbours to seek stronger economic ties since the West brought in sanctions against Russia over the Ukraine crisis and the oil-price slump hit the Russian economy.
The opening of a Beijing representative office by the Central Bank of Russia was a “very timely” move to aid specific cooperation, including bond issuance, anti-money laundering and anti-terrorism measures between China and Russia, said Dmitry Skobelkin, deputy governor of the Central Bank of Russia.
SOMEONE in the previous administration should have thought that this would be one way that Russia and China would react to the absolutely stupid anti-Russian sanctions for something it absolutely didn't do, which was the "alleged annexation" of Crimea (forgetting that the people of Crimea held two referendums to ask their people if they wanted to leave Ukraine, post-2014 putsch, and join the Russian Federation.)
But then again, I have learned, through many frustrating decades of many US governmental Administrations, that the pathological inability to think a scenario through to its logical conclusion seems to be a very stringent requirement for going to work for it.