Banks in Armenia, Kazakhstan and Hong Kong have started blocking payments tied to commodity codes used for deliveries to Russia, citing sanction risk. This trend is being reported by Kommersant, based on multiple source interviews.
Industry sources report that over the past two weeks there has been a steady rise in the number of banks in the three regions blocking payments from Russian legal entities when payments are coded under standard commodity nomenclatures. The blockages cover components such as processors and microcircuits, among others, and appear connected to the new wave of sanctions that target financial flows linked to Russia. The move reflects a broader tightening of bank compliance controls in response to the targeted measures, with banks citing heightened risk and regulatory scrutiny as their rationale.
Experts note that this shift could push Russian buyers to reroute imports through alternative product descriptions or codes, effectively bypassing the conventional nomenclature used for those items. The tightening also implies that banks may begin to exercise more manual review over incoming payments from Russian counterparties, increasing transaction friction and the time required to complete shipments. The practical consequence is a potential slowdown in the supply chain for certain high‑tech components that Russia relies on for manufacturing and maintenance of essential equipment.
Market analysts warn that these developments could lead to a shortage of sanctioned products within Russia, particularly as buyers explore new routes and intermediaries to secure needed items. The prevailing view is that obtaining the required components through third countries may become more difficult and expensive, with the risk of delays extending for months as compliance and traceability requirements tighten further.
Officials have signaled upcoming policy steps aimed at controlling the flow of goods into Russia via parallel import channels. The government is considering narrowing the list of brands whose products may be imported without the explicit authorization of the copyright holder. This step would tighten access to certain products, potentially reshaping how Russian manufacturers source critical technologies and materials in the near term.