“The company from the UAE was unable to transfer yuan from the Kazakh bank “Center Credit” to the Chinese Chouzhou Commercial.”, — write: www.unian.ua
The company from the UAE was unable to transfer yuan from the Kazakh bank “Center Credit” to the Chinese Chouzhou Commercial.
Beijing continues to tighten the stranglehold on Moscow’s neck / UNIAN collage, photo pixabayBank of China, which is China’s fourth-largest bank by assets, has begun blocking yuan transfers from countries that Moscow uses to purchase various goods and equipment. This is reported by The Moscow Times with reference to business representatives, lawyers and consultants.Recently, a company from the UAE failed to transfer yuan from the Kazakh bank “CenterCredit” to the Chinese Chouzhou Commercial. The transaction was blocked by the Bank of China, which acts as a correspondent bank for the Kazakh credit organization.
Now Chouzhou is asked to send them Kazakh payments only from those banks with which they have direct correspondent relations. It is worth noting that similar difficulties arose during the transfer of funds from Georgian and Armenian banks to China. Experts emphasize that the Bank of China has very strict requirements regarding security rules.
“Just some suspicion of danger – they don’t want to make a payment right away,” says Maksym Spasskyi, secretary of the general council of the business organization RASPP.
A particular problem for Russians is money transfers for electronics or other complex equipment, while, for example, payments for clothes go through small regional banks without problems.
Chinese banks do not want to do business with Russia In August, UNIAN wrote that Russian companies are facing increasing delays and costs for payments with trading partners in China. As reported, transactions worth billions of yuan remained in a “suspended” state. The reason for this was cited by experts as the Chinese fearing secondary sanctions from the US Treasury Department.
According to some data, earlier banks began to return about 80% of Russian remittances in yuan. At the same time, customers not only experience losses on the exchange rate and conversion, but also still pay the commission.
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