Chinese banks have limited settlements with sellers on Russian marketplaces
Kyiv • UNN
Chinese banks have complicated cross-border payments for the purchase of goods on Russian marketplaces. China's share of payments to Russian marketplaces fell by a quarter to 51.1% over the year.
Cross-border settlements for purchases of everyday goods in China are now more difficult on Russian marketplaces. Over the year, China's share of payments made by companies operating for Russian marketplaces fell by a quarter.
UNN reports with reference to RosSIA.
Details
For sellers of goods on Russian marketplaces, difficulties with payments through Chinese banks have increased. According to Kommersant, after Chinese banks complicated payments from Russia for electronics goods, the corresponding obstacles have spread to other groups of goods.
An individual entrepreneur from Khabarovsk confirmed that it is currently “difficult to make cross-border payments for the purchase of everyday goods in China, including clothing and food,” the publication reports.
According to the calculations of PRO Wildberries, China's share of Russian marketplaces has dropped to 51.1% from 67.8%.
In January-August 2024, China's share of cross-border payments by Russian marketplaces decreased by 16.7 percentage points.
However, large Russian marketplaces claim that they are not experiencing significant problems due to the slowdown in cross-border payments with China, the article says.
Recall
UNN reported that according to the statement of US Deputy Secretary of State Kurt Campbell, in the face of tough sanctions against Russia, China is directly assisting the Russian military machine, supporting its efforts to wage war against Ukraine.
