Russian banks hobbled by sanctions

US officials say Moscow has asked Beijing for military equipment to support its invasion of Ukraine, Ukraine’s army celebrates its Turkish drones but Ankara plays down weapons sales to appease Moscow, Russia has ratcheted up the chances that it will default on its debt with a threat to pay international bondholders in roubles rather than dollars, and sanctions are forcing Russian banks to abandon global ambitions and focus on survival. 

Mentioned in this podcast:

US claims Russia has asked China for military help in invasion of Ukraine

Russia threatens to make external debt payments in roubles

Turkey is trying to carve out role as a mediator between Kyiv and Moscow

Russia’s banks turn from global ambitions to survival

War in Ukraine: free to read 

The FT News Briefing is produced by Fiona Symon and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber and Gavin Kallmann. The show’s theme song is by Metaphor Music. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley. 

Read a transcript of this episode on FT.com

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