Economy21.02.2024 - 10:48

China's major banks have stopped accepting payments from Russia

These are China Construction Bank (CCB), Bank of China и Industrial and Commercial Bank of China (ICBC).

Фото: Getty Images/Cfoto

In China, major banks have stopped accepting payments from financial organisations in Russia, which are under sanctions. This was reported by Izvestia.

Payments have not been accepted since the beginning of this year. These are China Construction Bank (CCB), Bank of China and Industrial and Commercial Bank of China (ICBC).

Russian clients refusals to accept payments are explained by the company's internal policy. "Izvestia" believes that the banks of the Celestial Empire are afraid of secondary restrictions from the US, which strengthened control over compliance with restrictions in December 2023.

A similar decision was taken earlier by Turkish banks. They stopped accepting transfers from Russia from 1 January 2024.

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