Chinese Banks Shun Russian Payments
This is a Russia news story, published by Insider, that relates primarily to Izvestia news.
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direct Chinese payment transfersInsider
•Nearly all Chinese banks are refusing to process payments from Russia, report says
81% Informative
Nearly all Chinese banks are refusing payments from Russia , a report from the Russian outlet Izvestia says.
Russia has been using smaller banks and non-US-dollar currencies to bypass Western sanctions.
Now, 98% of Chinese banks — even small regional ones — are refusing to accept direct Chinese payment transfers from Russia .
Russia is rushing to set up alternative payment systems, including crypto, to facilitate trade.
VR Score
82
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