China's three largest banks – Industrial and Commercial Bank of China (ICBC), China Construction Bank and Bank of China – have stopped accepting payments from Russian sanctioned financial institutions. Izvestia writes about this with a link to sources.
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By According to experts interviewed by the newspaper, the decision is associated with the risks of secondary sanctions.
These three banks occupy first, second and fourth places in terms of assets in China.
According to the CEO of the First Group company Alexey Poroshin, credit organizations began reporting that they had stopped accepting payments since the beginning of January. At the same time, transactions with Russian banks that are not subject to sanctions are still continuing.
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