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Is this as a result of the Singaporean government sanctioning Russia? https://www.reuters.com/world/asia-pacific/singapore-impose-appropriate-sanctions-restrict

by vore 5y ago

Is this as a result of the Singaporean government sanctioning Russia? https://www.reuters.com/world/asia-pacific/singapore-impose-appropriate-sanctions-restrictions-russia-2022-02-28/ https://www.reuters.com/world/asia-pacific/singapore-impose-... I assume that if Bank of China wants to do business in Singapore, their Singaporean branch must comply with Singaporean law.

russli1993 5y ago
Maybe both https://www.bloomberg.com/news/articles/2022-02-25/chinese-state-banks-restrict-financing-for-russian-commodities https://www.bloomberg.com/news/articles/2022-02-25/chinese-s... Other state banks are also doing sanctions: Stopping financing for purchases of Russian commodities. Complying with western sanctions. Reducing compliance risks
csomar 5y ago
Something that people here might be missing: If the Russia companies/banks/brokers get sanctioned, they might be in a situation where they can't honor their engagement. Who'd want to deal with that? The Chinese might be thinking pragmatically after all.
- MrDresden 5y ago
  Exactly. I would be very suprised if this is driven by anything other than pragmatic self interest.
  - acdha 5y ago
    At the very least, I’d be surprised if they weren’t renegotiating eye-watering rates: it’s not like Russia has many options and I suspect the Chinese government would like Putin to collapse and be replaced with someone better for business.
    - octoberfranklin 5y ago
      I suspect the Chinese government would like to conquer Taiwan, especially if they could do so as part of a multi-front world war in which they weren't the one who shot Archduke Ferdinand. No matter which way it turns out, they'd prefer that history remember the whole conflagration as something started by Russia rather than by China. Putin is definitely getting a holiday card from Xi this year.
      - acdha 5y ago
        That seems like a stretch — the interest is certainly there but I don't think there's any path to Taiwan which isn't a transparent “you were tied up with Russia” pretext, and there's a lot more precedent now for a large chunk of the world's economy being willing to sacrifice money to punish aggression. They just don't seem to have the appetite for risk that Putin does — spread money around, build soft power while locking up valuable resources, etc. and you get most of the same results they care about without bloodshed.

by vore 5y ago

russli1993 5y ago

Maybe both https://www.bloomberg.com/news/articles/2022-02-25/chinese-state-banks-restrict-financing-for-russian-commodities https://www.bloomberg.com/news/articles/2022-02-25/chinese-s... Other state banks are also doing sanctions: Stopping financing for purchases of Russian commodities. Complying with western sanctions. Reducing compliance risks

csomar 5y ago

Something that people here might be missing: If the Russia companies/banks/brokers get sanctioned, they might be in a situation where they can't honor their engagement. Who'd want to deal with that? The Chinese might be thinking pragmatically after all.

MrDresden 5y ago
Exactly. I would be very suprised if this is driven by anything other than pragmatic self interest.
- acdha 5y ago
  At the very least, I’d be surprised if they weren’t renegotiating eye-watering rates: it’s not like Russia has many options and I suspect the Chinese government would like Putin to collapse and be replaced with someone better for business.
  - octoberfranklin 5y ago
    I suspect the Chinese government would like to conquer Taiwan, especially if they could do so as part of a multi-front world war in which they weren't the one who shot Archduke Ferdinand. No matter which way it turns out, they'd prefer that history remember the whole conflagration as something started by Russia rather than by China. Putin is definitely getting a holiday card from Xi this year.
    - acdha 5y ago
      That seems like a stretch — the interest is certainly there but I don't think there's any path to Taiwan which isn't a transparent “you were tied up with Russia” pretext, and there's a lot more precedent now for a large chunk of the world's economy being willing to sacrifice money to punish aggression. They just don't seem to have the appetite for risk that Putin does — spread money around, build soft power while locking up valuable resources, etc. and you get most of the same results they care about without bloodshed.