China's Bank of China has stepped up blocking of yuan payments from countries that may be linked to Russia.
Lawyers and consultants working with China have confirmed the alarming information.
The trend was confirmed by a recent case when a company from the UAE was unable to transfer money from Kazakhstan to the Chinese bank Chouzhou Commercial via Bank of China, RBC reports.
The blocking occurred due to the lack of direct correspondent relations between the Kazakh bank and Chouzhou.
Chouzhou now requires that transfers from Kazakhstan be made only through banks with direct correspondent connections.
In addition, in February, Chouzhou Bank warned clients about the termination of transactions with Russia and Belarus through the SWIFT, SPFS and CIPS systems.
Experts emphasize that in practice, more and more cases of blocking such payments are accumulating
In addition, there are cases of not complete blocking, but complications in settlements with Chinese banks for banks from Georgia and Armenia.
