| Russia’s biggest commercial lender is issuing letters of credit in the Chinese yuan. Sberbank said Friday that it has teamed up with the Export Import Bank of China to grant its first line of credit in yuan to Russian pharmaceutical giant Pharmasyntez. The company approached Sberbank about opening a yuan credit line in order to pay for pharmaceutical goods it imports from China.
Russian state media hopped all over the announcement this weekend. RT in particular exists to report about how awful the U.S. and European Union are. And after Russia discovered China this year, the Russian neighbor has become like a new exotic girlfriend being rubbed in the face of the ex...............................................Full Article: Source
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