ICBC, CCB and Bank of China are ranked first, second and fourth in terms of assets in China. These banks have informed Russian clients that they will stop accepting payments from the beginning of January 2024.
Chinese banks Industrial and Commercial Bank of China (ICBC), China Construction Bank (CCB) and Bank of China have stopped accepting payments from Russian financial institutions. This was reported by the Russian propaganda publication Izvestia on Wednesday, February 21, referring to the general director of JSC First Group Alexey Poroshin and the commercial director of the Impaya Rus company Alexey Razumovsky.
ICBC, CCB and Bank of China are ranked first, second and fourth in terms of assets in China. These banks have informed Russian clients that they will stop accepting payments from the beginning of January 2024.
Transactions continue with non-sanctioned credit institutions.
“According to Izvestia’s source in a Russian bank, ICBC and CCB reject all payments received from financial institutions sanctioned by Russia, regardless of the system through which they go – European SWIFT, Russian SPFS or Chinese CIPS .Chinese banks explain their decision through the internal policies of credit institutions.” , – said the publication.
It was previously reported that another bank in Cyprus was closing the accounts of Russians. We are not talking about tax residents of the Russian Federation (their accounts were closed last year), but about Russian citizens living in Cyprus and with Cypriot documents.
The main Chinese bank for importers from the Russian Federation has stopped payments – media
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.