Russian exporters are having problems with the return of their foreign exchange earnings due to new US sanctions. writes RBC online publication citing research data from shipping company PEC and international transfer company MoneyRoo.
As stated in the research, the restrictions imposed by the USA on nearly 100 Russian financial companies in November further aggravated the problems regarding the return of export revenues to Russia. As noted by Andrey Gusev, managing partner of the law firm Nordic Star (recognized as a foreign representative in the Russian Federation), sanctions delay payments and increase the cost of cross-border transactions when paying for Russian goods.
As Gusev emphasized, the consequences of American sanctions will be felt especially strongly by companies operating in the field of raw materials exports and high-tech equipment, as well as natural resource exporters.
November 21 US Treasury entered Sanctions against Russian bank Gazprombank. In addition, BKS Bank, Centrocredit and some other financial institutions were also subject to restrictions.
existed before named The consequences of new US sanctions against Russia.