Vladimir Putin and Xi Jinping talking.
Russian President Vladimir Putin and Chinese leader Xi Jinping interacting during a welcoming ceremony at the Third Belt and Road Forum in Beijing on October 17, 2023.
  • Chinese banks are halting yuan transactions with Russia, an Izvestia report said, cited by Reuters.
  • It's a consequence of Western pressure on China, a Kremlin spokesperson said.
  • The US has increasingly touted secondary sanctions on foreign banks that work with Russia.

A number of Chinese banks are reported to have restricted payment transactions with Russia, prompting one Kremlin official to call out the West.