OREANDA-NEWS Several Chinese banks have stopped accepting payments from Russia in yuan, their customers have started receiving appropriate notifications, and banks are returning transactions. Alexey Poroshin, the head of the First Group company, told Izvestia about this.

Previously, it was known about the termination of the acceptance of dollar transfers from Russia by many Chinese banks and delays in settlements, but transactions in national currencies continued.

Many Chinese banks with international participation also refuse to accept payments in yuan: local branches of CitiBank, Standard Chartered Bank, HSBC, JP Morgan, BNP Paribas, Deutsche Bank, Mizuho Bank and others, Poroshin added. However, two interlocutors of the newspaper in the banking market noted that these organizations stopped conducting transactions with Russian clients two years ago after the introduction of international sanctions.

The listed banks from China have indeed stopped accepting yuan payments from Russia, this has happened since about mid-January, an interlocutor from the Russian banking sector confirmed to the publication. He stressed that the problem is still relevant. The source explained the restrictions by the fear of falling under secondary sanctions and pressure from the United States.