1. The US is using control of the financial industry to apply sanctions to Russia.
2. Russia and China do not like the US having financial controls that can hurt their economy.
3. Oil is mostly priced in dollars, making the US the default reserve currency of the world.
4. Russian is now doing export deals not using US dollars.
5. Having the US dollar as the world reserve currency, allows the US government to borrow more than it can.
6. Sanctions are seen by the US government as a low cost way to show they are doing something.

Labels: China & Russian