Six banks from China have resumed transactional operations with Russian banks

icon
12:01; 20 June 2024 year
Freepik Company

© Freepik Company

Six Chinese banks, five small and one large resumed transactional transfers with Russian banks in national currencies, rubles and yuan. This is reported by the website of Izvestia.

In particular, the acceptance of transactions in national currencies was also resumed by Bank of China, one of the largest banks in China.

Small Chinese banks have started working with Russian business again, which do not have international business with countries unfriendly to the Russian Federation and, accordingly, there are no fears of falling under secondary sanctions from the United States and the EU.

However, the commission of small Chinese banks is higher than that of large players. In addition, not all Chinese suppliers agree to open bank accounts in the north of the country. The latter problem is solved through export agents from China. The payment situation improved in mid-May, although transactions were mostly blocked back in April. A month ago, there was a shift in the interaction between China and Russia, and imports began to grow.