If you feel that the risks associated with evading these sanctions are worth the gain then you are a lot braver than I am, and besides that I would not want to profit of all this misery anyway.

Chinese Yuan is an extremely unpopular currency corridor because a) there is no market for it, it’s effectively a peg and b) it’s divorced from usage in the country it’s supposedly from.

That is to say you’ll pay a gigantic premium on that trade.

Ok, so you'd end up flat at best and the whole thing would be a wash dollar wise while still putting you on a bunch of watch lists. Is that what I'm getting out of this?

I don’t know enough about that particular corridor to know what the specific outcomes would be.

That said, my impression is that flat would be tough and liquidity would be a real problem.