Chinese Banks Have Started Additional Checks on Payments from UAE, India, and Hong Kong

Credit Institutions Monitor to Ensure Goods Are Shipped to the Country from Which Payment Was Made.

Chinese banks are intensifying checks on payments from countries like the UAE, India, and Hong Kong, in an effort to track any "Russian connection." They are also increasing scrutiny of payments routed through the CIS countries, examining shipping documents, the final destination, the recipient, and the purpose of the goods.

Direct transactions to Chinese banks are still possible through regional Russian banks, with payments also routed through Malaysia and Indonesia. The safest and quickest option is direct payments through a Russian bank branch in China. However, this requires both the Chinese counterparty and the Russian buyer to have accounts with the same financial institution, which can be quite challenging to arrange.

Issues with cross-border payments arise due to foreign financial institutions’ concerns about falling under secondary sanctions. The solution is here! With RSI GARANT, your business operates smoothly without delays or stress. We offer:

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Chinese Banks Have Started Additional Checks on Payments from the UAE, India, and Hong Kong