• 20/07/2024 05:29

Chinese banks began blocking payments to Russia for electronics – media

Since the end of March, Chinese banks began blocking payments from Russian companies for components and kits for assembling electronics, including servers, data storage systems (SDS), laptops and other equipment. Kommersant writes about this with a link to sources on the market.

Chinese banks began blocking payments in Russia for electronics — media

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According to the newspaper’s interlocutors, we are talking, in particular, about “cat kits”, which include processors, device cases, screens, etc.

At the same time, transactions are blocked even from companies that have agreed on long-term contracts for the supply of components for electronics with Russian clients.

“China is essentially a monopolist in the component base. Almost 100% of the global volume of components for electronics assembly is on their side,” says the source of the publication.

Problems with making payments through China, as well as Turkey and Kazakhstan, began at the end of December 2023, after the entry into force decree of US President Joe Biden, which allowed the introduction of sanctions against foreign financial organizations for violating restrictive measures against Russia.

minfin.com.ua

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