PRC banks are afraid to enter the lists of penalties, for a second penalty, so they do not receive money from Russia.
Russian companies, due to western penalties, are forced to return to training in the 1990s in calculations. In particular, they end up barter transactions to prevent bank payments from working with Chinese companies. Reuters reported this reference to their resources.
“Chinese banks are afraid to enter the lists of penalties, under a second penalty, so they do not receive money from Russia,” said a market expert.
Based on information from resources, customs statistics and statements, Reuters have identified eight barter transactions between Russian and Chinese companies for the past two years.
It is difficult to evaluate the true value of such operations, but, according to three agency sources, they are more often. It has also been proven in the diversity of Federal Customs Service data and the Bank of Russia in imports: in January June this year, it reached $ 7 billion.
According to resources engaged in cross -border trade, agricultural products are often used in barter transactions. Russian grain can exchange for any Chinese product – which will agree with what.
Also, consumer goods from China are transformed into grain, and household items and building materials (FCS reported) on flax seeds.
Chinese companies spoke about barter transactions in August at a Kazan business forum, calling for financial and localization calculations are the major collaboration problems in Russia.
XUI Xinjin from Hanan Longpan Oilfield Technology has suggested to conduct such transactions using a special certificate of Chinese customs. In particular, he wants to exchange ship machines and install his company’s generator for steel and aluminum materials, which is also used in ship manufacture.
Recall that China did not confirm the statements of Russian dictator Vladimir Putin in a so-called end of the gas pipeline agreement, the Siberia-2 force, that Russia would provide gas to China.
China refused to invest in the Russian Federation Gas project – Intelligence
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.