China stops accepting payments from Russian banks under new sanctions

Chinese banks have started refusing to work with Russian credit institutions that have fallen under new US sanctions, Aleksey Poroshin, CEO of First Group JSC, told Izvestia. According to him, most players have already terminated relations with them.

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The information was confirmed by Alexei Razumovsky, commercial director of Impaya Rus. He said that he has already seen the first such cases. For example, Bank of China refuses to accept payments from Russian banks, which were included in the new SDN-list of the United States.

Entrepreneurs also wrote about such stories in a specialized chat room for importers. There they shared that, for example, the Chinese Bank of Kunlun (it was often mentioned in posts about settlements with the Russian Federation) began sending out warnings about stopping accepting payments from Russian sub-sanctioned credit organizations.

Until January, when the inauguration of the new president of the United States, there will be no easing, believes Alexei Poroshin from JSC "First Group". However, in his opinion, even with the arrival of Trump, the situation will not improve significantly. Alexei Tarapovsky, founder of Anderida Financial Group, is of a different opinion. According to him, after Trump takes over the White House, sanctions may be weakened.

Read more in Izvestia's exclusive piece:

Chinese behind the wall: in the People's Republic of China block payments of banks from the new sanctions list