“The largest Chinese bank has begun to block transfers in yuan in case of suspicions of the connection of the payment with Russia – ZMIBank of China has strengthened the blocking of transfers in yuan from countries through which the Russian Federation purchases goods. The bank stops large transactions from Kazakhstan, Georgia, Armenia and the UAE, especially when purchasing complex equipment.”, — write on: unn.ua
Details
It is reported that one of the largest banks in China, the Bank of China, began to block transfers in yuan from countries that Russia uses to purchase goods more often. As an example, a blocked transfer from the Kazakh bank “CentrCredit” to the Chinese Chouzhou Commercial is given. The transaction was blocked by the Bank of China, which acts as a correspondent bank for the Kazakh credit organization. Similar problems arose during the transfer of funds from Georgian and Armenian banks to China. It is also emphasized that banks block large transfers when it comes to the supply of complex equipment or electronics, and the payer is a company from the UAE, Kyrgyzstan or Kazakhstan.
We will remind
China has tightened export controls on products that can be used in the military industry and dual-use goods, leading to delays and increased costs for Russian importers due to increased inspections and licensing requirements.
The Chinese yuan officially became the main foreign currency of Russia, replacing the dollar and the euroJune 13 2024, 13:55 • 20833 views