2024-07-27 07:00:16
Russian exporters are increasingly facing problems making payments to China amid the expansion of US sanctions in June, with such transactions either frozen or heavily delayed.
As reported by Day.Az with reference to RBC, top managers of large Russian suppliers told Bloomberg about this.
Thus, direct payments from China to Russia, even using yuan, are almost impossible, complain top managers who asked to remain anonymous. One of them, a representative of an agricultural trading company, reported that even some Chinese buyers of Russian agricultural products have had problems with payments this month.
The agency’s sources said that even if they have a problem making payments, it is becoming increasingly difficult to find alternative payment methods, including using cryptocurrencies or “straw countries.”
“We have not yet seen a clear collapse in imports due to lags, but imports in rubles have already begun to decline,” said Dmitry Polevoy, investment director of Astra Asset Management, referring to delays in payment processing. According to him, imports in rubles “will noticeably decline after recovery in 2023.”
Bloomberg recalls that the difficulties in trade were preceded by the expansion of the parameters by the US for determining the need to introduce secondary sanctions, including against foreign companies. In particular, the definition of Russia’s military-industrial base was expanded.
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