After the United States tightened anti-Russian sanctions in December 2023, many Chinese banks stopped making payments in dollars to the Russian Federation. The newspaper reports this “News” Referring to payment market participants, including member of the General Council of Business of Russia, General Director of First Group JSC Alexey Poroshin.
According to one of the sources, the new restrictions are related to Chinese banks’ fears about the possibility of secondary sanctions. The fact is that all payments in dollars, regardless of the country of the recipient and sender, are made through correspondent accounts opened in American banks, so they are easily tracked.
Oleg Abelev, head of the analytical department of the investment company Ricom-Trust, also confirmed to the publication that many Chinese banks stopped accepting payments in dollars from Russian companies in December last year.
At the same time, Chinese credit institutions are still interested in making payments in national currencies. Izvestia sources said that now payments are carried out in the usual format in rubles and yuan.
Bloomberg this week China’s state banks it started to get tight Restrictions on financing of Russian customers after the United States adopted the law on secondary sanctions against foreign financial companies working with sanctioned persons from the Russian Federation.
Putin before named Sanctions against Russia are crazy and reckless.