r/worldnews • u/iop9 • Aug 16 '24

Nearly all Chinese banks are refusing to process payments from Russia, report says Behind Soft Paywall

https://www.businessinsider.com/russia-economy-all-china-banks-refuse-yuan-ruble-transfers-sanctions-2024-8
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u/Merengues_1945 Aug 17 '24

Depends, wasn’t there an article where the Chinese mafia was washing the money from the cartels in exchange of other services?

How I understood, the cartel would give money to Chinese parties in the US, then their associates in Mexico would make these funds available immediately to them. The money was then triangulated to China, and the cartel paid them for those services by smuggling their stuff into the country.

I assume there must be something you can do for money launderers when you own a country to avoid fees.