Russian banks have started asking for confirmation of payment acceptance in China
Russian banks have begun to make new demands on domestic importers.
Financial institutions ask for confirmation that a transfer sent to China will definitely be accepted in China and not sent back.
The newspaper Vedomosti writes about this, citing an importer who has already had to deal with a similar problem.
As specified in the publication, the money transfer system now looks like this.
A supplier from China must contact his bank and confirm that the financial institution will accept the transfer sent to him from Russia.
After this, the sender of the money in Russia must notify the bank in writing that the funds will be accepted.
It is noted that the specific case encountered by Vedomosti’s source concerns payment in yuan for goods not included in the sanctions list.
It is believed that such a reinsurance system is necessary due to the increased sanctions pressure from the US on Chinese banks. In this regard, the latter often do not accept payments coming from Russia and send them back.
