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Chinese President Xi Jinping (left) and Russian President Vladimir Putin (right).
&quotWhile Russia may pose the most immediate challenge, China is the bigger long-term threat," CIA director William J. Burns wrote in an op-ed for Foreign Affairs.

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  • Chinese exporters are reportedly going "underground" as domestic banks pullback from transaction business with Russia, Reuters reported.
  • Many lenders have restricted transactions with Moscow, curbing payment options for Chinese firms.
  • Alternative channels include money brokers, and the possible use of cryptocurrencies.

Tighter US scrutiny of Beijing's trade ties is sending domestic exporters underground, Reuters exclusively reported on Monday.

Tags
economy, Markets, russia-china-relations, us-sanctions, russia-sanctions, ukraine-war, foreign-trade
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How China and Russia are reportedly using 'underground' channels to get around …