Russia, China Mull Payment System to Bypass U.S. Sanctions

After signing an agreement with Chinese Premier Li Keqiang on Wednesday, Russian Prime Minister Dmitry Medvedev suggested the two countries consider linking their payment systems in a move that would allow both countries to skirt much of the economic pressure created by U.S. sanctions.

 

In the face of withering sanctions imposed by the U.S., Russia has reached out to China to consider a payment system that allows them to bypass the American banking system, thereby avoiding sanction restrictions.