Bank of China. Photo: getty images
Chinese banks have begun to restrict transactions of Russian companies through India, the UAE and Hong Kong, intensifying checks on payments for a “Russian trace”. This was reported by The Moscow Times on 21 November.
Russian entrepreneurs are facing increasing difficulties in international payments. Chinese lending institutions require an analysis of shipping documents, carefully checking to whom and for what purpose the goods are being sent. Previously, similar measures were applied to payments through Turkey and the CIS countries, but now the restrictions have been extended to other destinations.
“It is becoming more and more difficult to make payments, banks are looking for any risky elements in transactions,” Russian business representatives say.
Experts attribute these restrictions to political changes in the United States. Ahead of Donald Trump’s return to power in 2025, China is trying to avoid possible sanctions and conflicts with the new US administration, which has already declared a trade war against Beijing.
“Chinese banks will not take any risks, as this could lead to significant losses in international markets and complicate relations with the US,” analysts say.
Despite the new restrictions, Russian businesses still have options for financial transactions with China. Direct transactions from regional Russian banks remain possible. Routes through Malaysia and Indonesia also remain available.
However, China’s increasing scrutiny suggests that even these workarounds may eventually be at risk.
