Russia's economy worried: dependence on China will be Putin's downfall. In addition to China, Russia could lose an important trading partner as India is considered one of the most important buyers of Russian crude oil.
In the wake of Western sanctions, several credit institutions are suspending payment transactions with Russia. China's central banks also want to restrict business with Russia - with disastrous consequences for Russia's economy. Russia's central bank admitted it had limited options other than the Chinese yuan for its reserves. The role of the yuan as an international currency and its liquidity have increased “noticeably” in recent years.