Russian Companies Encounter Payment Hurdles with Chinese Suppliers amid Increasing Obstacles

[モスクワ １２日 ロイター] – Russian companies are facing increasing obstacles in making payments to China, two Russian news outlets reported on the 12th. In particular, transactions involving electronic components were affected.

Kommersant newspaper reported, citing market sources, that some Chinese banks have been receiving orders from Russia since the end of March for servers, storage systems and critical electronic components needed for laptops. Payments have begun to be blocked.

Until now, restrictions have been placed mainly on finished products, but this will be expanded further.

Experts quoted by Kommersant say China is the only supplier of such parts, and Russian companies assembling electronic equipment could face serious difficulties and production delays.

Meanwhile, a number of Chinese banks, including Bank of China (3988.HK) New Tab, opens a new tab (601988.SS) New Tab, opens a new tab, and Great Wall Huaxi Bank, have been encouraging Russian customers not to make transactions, according to Izvestia.I began to ask detailed questions. In particular, they would ask if they have ties to the Russian military, areas of Ukraine controlled by Russia, or countries such as Cuba, Iran, or Syria.

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