Alfa Bank announced that compliance control procedures have been strengthened when making cross-border payments to China. This was reported by RIA News said the bank’s press service.
However, according to bank representatives, this is a standard practice and does not affect foreign partners’ transfers in yuan.
The press service noted that most payments in China are made in yuan, with a smaller portion in rubles. Strengthened checks do not affect cross-border payments and do not interfere with the receipt of funds from counterparties.
It was previously reported in the media that China’s largest state-owned banks began to more carefully check customers associated with Russia. They identify companies whose beneficiaries are located in the Russian Federation, as well as suppliers of sanctioned goods.
In the middle of last week, due to fear of possible sanctions, Turkish banks suspended Cooperation with Russian companies. Correspondent banking and payment transactions were terminated before contracts were officially closed, and remittances from Russia to Turkey have virtually stopped since the beginning of the year. The difficulties arose from measures taken by the US Treasury Department’s Office of Foreign Assets Control (OFAC), and the problems affected almost all banks in Turkey.
Previously Türkiye to create Solving the problem of money transfer from Russia.