Chinese banks, including Bank of China and Industrial and Commercial Bank of China, have significantly reduced their assets in Russia amid ongoing sanctions related to President Putin’s invasion of Ukraine. In the second quarter of 2024, Bank of China saw a 37% decrease in assets to 355.9 billion rubles ($3.9 billion), while Industrial and Commercial Bank of China reduced its assets by 27% to 462.4 billion rubles ($5.1 billion), indicating the impact of sanctions on trade between the two countries.
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Germans Are Voting. Here’s What to Watch For.
Germans vote in a snap election as Chancellor Scholz's government collapses, with Friedrich Merz's Christian Democrats leading polls. The far-right AfD is expected to place second, while small parties like Die Linke and the Free Democratic Party aim to clear the five percent threshold. The "firewall" against extremist parties will be tested, with concerns over the AfD's potential impact on German politics and the stability of future coalitions. Full Article
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