Chinese banks began refusing to work with Russian credit institutions that were targeted by new US sanctions in November. This was told to Izvestia by representatives of Russian companies. According to them, this is due to China’s fear of secondary sanctions from Washington.
Author:
https://rb.ru/author/bmuzichenko/
Subscribe to RB.RU on Telegram
Information about problems with payments was confirmed to the newspaper by the commercial director of Impaya Rus, Alexey Razumovsky. He noted that the Bank of China already refuses to accept payments from Russian banks included in the SDN list.
The publication notes that businessmen also reported difficulties encountered in the specialized Telegram chat for importers. He wrote that Kunlun Chinese Bank began sending warnings to stop accepting payments from Russian-sanctioned credit institutions.
The practice of notifications similar to those of Kunlun Bank will likely spread to other Chinese banks, noted Roman Tikhonov, product director at fintech company Paygine, in a conversation with Izvestia.
The US Treasury imposed sanctions against 52 banks, including Gazprombank, BCS Bank and state-owned corporation Dom.RF, on November 21. In total, about 100 companies and individuals are on the US department’s list.
This is not the first time that Chinese credit institutions have introduced restrictions against Russian banks, fearing secondary sanctions from the United States. In mid-November, RBC wrote that Chouzhou Commercial and Bank of China began creating blacklists of legal addresses, which is why non-sanctioned companies also had problems using accounts.
Author:
Bogdan Muzychenko
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
