Russia says nearly half its reserves are frozen, counts on ties with China

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LONDON - Russia said on Sunday that it was counting on China to help it withstand the blow to its economy from Western sanctions, which it said had frozen nearly half of its gold and foreign currency

reserves.

"But I think that our partnership with China will still allow us to maintain the cooperation that we have achieved, and not only maintain, but also increase it in an environment where Western markets are closing." Siluanov's comments in a TV interview marked the clearest statement yet from Moscow that it will seek help from China to cushion the impact.

The sanctions on Russian reserves have become one of the most painful measures for the Russian economy.

 

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