Russians set up method to convert wire currency into Chinese yuan, sparking fears of alliance

Russian state-controlled bank VTB announced that it has set up a system to send money transfers to China in China's own currency, the renminbi.

According to Rebekah Koffler, a former DIA intelligence officer and author of "Putin's Playbook: Russia's Secret Plan to Defeat America," this is another example of the growing Russia-China strategic partnership. Russia is playing into Beijing's plan to replace the U.S. dollar as the dominant international currency and medium of exchange by 2049.

The U.S. and western sanctions against Russia aim at cutting Moscow off from the global financial system.

China has increased its partnership with Russia.

The foreign policy strategy is based on Russia.

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Russia and China aren't natural allies, but the Biden administration's policies have pushed them together

The move will benefit Russian businesses by allowing them to work with China instead of using the euro or dollar.

The new reality is causing a massive rejection of the use of the dollar and the euro in international payments. The launch of the yuan transfer system will increase the popularity of the Chinese currency in our country.

The maximum single money transfer on the new system is 20 million rubles and the monthly maximum is 100 million rubles.

Outside of Russia and China, the developments of alternatives to the dollar could have repercussions.

The diminution of confidence in the US dollar among non-Western nations has been the result of the US sanctions policy. India is now considering using other types of financial services.