**China’s Yuan-Denominated Exports to Russia Drop Sharply**
China’s exports to Russia have decreased sharply in November, according to Reuters. The Chinese customs data shows a 10.5% drop compared to the same month last year.
This marks the first decline since July and highlights the challenges facing China-Russia economic relations. Imports from Russia also fell by 7.4%.
**Payment Difficulties Due to Sanctions**
The trade between China and Russia is affected by payment difficulties due to Western sanctions against Russia. The US has imposed sanctions on over 50 Russian financial institutions, including Gazprombank.
Chinese companies are under scrutiny for helping Russia avoid these restrictions. Western officials have emphasized Beijing’s role in sustaining Russia’s economy and defense industry amid the war.
**Trade Between China and Russia**
The trade between China and Russia surged after the full-scale invasion of Ukraine. However, in the past year, Chinese institutions have been shutting down transactions with Russia due to concerns about secondary sanctions.
**Ukraine Updates**
A Russian missile attack on the town of Zlatopil in Kharkiv Oblast injured at least eight people. Ukrainian resistance group Atesh reported that Russian soldiers are increasingly sabotaging their own boats and equipment to avoid attacking Dnipro River islands.
At least three civilians were killed, and 14 others were injured in Russian attacks across Ukraine over the past day.
**Global Developments**
Hungarian Prime Minister Viktor Orban said, “The future has begun — an afternoon in Mar-a-Lago.” President Volodymyr Zelensky responded, “And that’s the truth — only decisiveness can bring this war to a just end and ensure lasting peace.”
Ukraine successfully returned five children from Russia and Russian-occupied territories as part of the “Bring Kids Back UA” initiative.
The US has unveiled new sanctions against individuals involved in the illicit gold trade. Ukraine is assembling a coalition of partners to create a working group aimed at bolstering its defense and forming a united diplomatic stance on ending the war.
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