Bank of China has restricted Russian banks from transferring funds in renminbi to the European Union, the United States and Britain.
Bank of China from June 13 stopped accepting payments from Russian banks to transfer yuan to banks in the EU, Switzerland, Britain and the United States, according to a report of some financial institutions.
The restrictions apply to branches of these banks in the PRC, as intermediary banks and beneficiary banks, said Akibank.
The exceptions were the recipient banks of the Bank of China group.
Unicreditbank added that the restrictive measures affected foreign branches of European, American and British banks.