Chinese companies began to stop selling goods to Russia due to the collapse of the ruble
The collapse of the currency brought losses to Chinese exporters.
Chinese companies that supply to of Russia various consumer goods, began to stop sales on e-commerce platforms due to the collapse of the ruble exchange rate.
The China Morning Post writes about it.
The fall of the Russian currency to the lows since March 2022 worried Chinese entrepreneurs, especially those who traded in rubles.
China has become Russia's largest trading partner and the main supplier of consumer goods, replacing the Western companies that left. According to customs data, $10-11 billion worth of goods from the PRC are imported into the Russian Federation every month — twice as much as before the start of the war.
More than 50% of goods on e-commerce platforms come from China. However, the collapse of the ruble has already caused serious losses to Chinese exporters.
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