The head of VTB Bank said that such refusals began to be recorded after the second penalty regime was tightened at the end of 2023.
Foreign banks, even from those countries that the Russian authorities call “friendly,” will begin to refuse payments from the end of 2023 simply because they are connected to Russia. The head of the Russian VTB bank Andrei Kostin spoke about it at the congress of the Association of Russian Banks, reports the Russian pro-government news agency. Interfax.
“After the strengthening of the secondary penalty regime at the end of last year, the number of refusals to pay from compliance control without explaining the reasons has increased significantly. This applies, first of all, to banks of “friendly ” that jurisdiction,” said the Russian official.
Among the possible solutions to this problem, he pointed to the development of payment infrastructure in third countries, the use of affiliated banks and various agency schemes, where payment can be made, including cryptocurrencies.
“There are two main types of such schemes on the market today. Large exporters, as a rule, use a network of trusted merchants. All others, including the largest banks, turn to the services of independent intermediary company. Most likely, in the short term this channel will remain the most in demand,” – added the head of VTB.
As we wrote earlier, Swiss banks have started to close the accounts of clients with Russian citizenship, even if they have a foreign passport at the same time.
Since mid-January, China’s big banks have stopped accepting payments in yuan from Russia. We are talking about at least eight credit institutions.
Source: korrespondent
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