Morning Brief: September 9

• The European Union is considering the possibility of imposing sanctions against China due to the import of Russian energy resources. Europe began to consider this possibility after the US president announced his intentions to increase pressure on Moscow. Trump demanded that Europe abandon the purchase of Russian fuel.

• Russia wants to establish a direct link with China's depository to simplify financial transactions between the two countries. Meanwhile, at the WEF, Putin allowed the unification of payment instruments of Russia and China. This should simplify the payment for tourists, who will become much more numerous against the background of the abolition of the visa regime between the countries.

• France is under threat of an economic crisis. Economists expect that Fitch will lower France's rating from AA to A, which will deprive banks of the opportunity to buy its government bonds and could cause a collapse. Political instability is intensifying after the resignation of Premier Bayrou and protests against fiscal policy. Macron's rating is falling, and experts doubt that even the new government will be able to change the situation.

• Trump's trade adviser: BRICS will not survive without the United States. Peter Navarro said that when BRICS members sell their exports to the United States, «they suck all the blood out of the United States like vampires with their unfair trade practices.» He also expressed doubts about the BRICS' ability to remain the only association due to the presence, in his words, «hatred and a desire to kill each other.»

• More than 50% of Russian businesses expect the economy to decline. In addition, 62% of respondents said that friendly countries could not compensate for losses against the background of sanctions, 26% found it difficult to answer, and 12% stated successful compensation. Half of the surveyed companies have made cuts over the past year.