In the face of financial sanctions that the United States may implement, China's large banks have reportedly strengthened their review of transactions between China and Russia, and drawn from large Sino -Russian trade orders.Chinese exporters have to settle in small banks and underground financing channels through border.
According to Reuters on Monday (April 29), from the outbreak of the Russian and Ukraine War, the United States had imposed a series of sanctions on Russia and Russian entities.The United States may now expand sanctions to China's banking industry because Washington believes that China has provided support for the Russian defense industry.
Reporting, San sanctions that the United States may mobilize It has affected non -military trade between China and Russia.The report quoted seven familiar trade and bank sources saying that since last month, the large banks in China have strengthened the review of China -Russia transactions for sanctions on the United States and restricted the payment of such transactions, which affected the payment of such transactions.Chinese small exporters.
Examine transactions and restrictions
The report mentioned that a headquarters in an electrical maker in Guangdong Province found that products are difficult to transport to Russia.The bank restricts transaction payment.
Mr. Wang, the founder of the company, said that they are considering using monetary brokers active in the Sino -Russian border region to settle the payment of their electrical products.Mr. Wang said that big banks now need a few months to settle payments from Russia, forcing traders to settle in unofficial payment channels or directly shrink the business through non -official payment channels.
Sources said that some Chinese companies are now turning to small banks and underground financing channels on the border, such as currency brokers, and even cryptocurrencies prohibited by China.Some companies have completely withdrawn from the Russian market because they cannot carry out business through official financial channels.
Mr. Wang also revealed that a large state -owned bank manager had stated that the bank had strengthened the review of Russian related businesses to avoid sanctions and "avoid unnecessary trouble."
Difficulties in receiving
The manager of a listed electronic company listed in Guangdong said that since the beginning of March, almost all major Chinese banks have suspended settlement with Russia.
Some rural banks along the Russian border in Northeast China are still available, but some businessmen have said that they have been in line for several months in the account opening session.
Employees of Liu from a chemical machinery company in Jiangsu Province said that he has ranked for three months in Jilin's Yichun Rural Commercial Bank.
Another manager of another Guangdong listed company said that since last month, their company has opened an account in seven banks, but no bank agrees to accept payment from Russia."In the end we did not receive more than 10 million yuan (S $ 1.879700) from Russia, we gave up. We gave up the Russian market."There will be more and more transactions through underground channels, but there are great risks in these methods.A Russian banker in Moscow told Reuters that paying with cryptocurrencies may be the only choice.
The Wall Street Journal quoted people familiar with the matter on the 22nd of this month that the United States was drafting sanctions and threatened to exclude some Chinese banks outside the global financial system.Reuters later quoted anonymous US officials that the United States has initially discussed plans for imposing sanctions on some Chinese banks, but has not yet formulated such measures.
A spokesman at the US State Department responded to Reuters's issues related to Chinese banks' restrictions from Russia that China supports Russia's defense industry not only threatening Ukraine security, but also threatened European security.
