80% of Russian payments to China are returned to Russia
Kyiv • UNN
80% of Russian payments to China are returned to Russia, as major Chinese banks, including ICBC, have stopped accepting Chinese yuan from Russia due to US sanctions.
Several leading Chinese banks, including the largest ICBC, have stopped accepting Chinese yuan from Russia. This was reported by Russian media, according to UNN.
Details
After the US imposed additional sanctions, only small Chinese credit institutions continue to take risks and cooperate with Russian counterparties and intermediaries.
The Council of the Russian Chamber of Commerce and Industry reported that payments for industrial goods have become much more difficult, while transfers for ordinary consumer products continue to be made. According to the agency, only one in five payments is successful.
Recall
During his visit to China, German Chancellor Olaf Scholz warned Beijing against supporting Russia in its aggressive war against Ukraine.