One of the largest banks in China began to block transfers from countries that are “friends” of the Russian Federation
A company from the UAE was unable to transfer yuan from the Kazakh Bank CenterCredit to the Chinese Chouzhou Commercial.
Bank of China, which is China's fourth-largest bank by assets, has begun blocking yuan transfers from countries that Moscow uses to purchase various goods and equipment. The Moscow Times reports this with reference to business representatives, lawyers and consultants.
Recently, a company from the UAE failed to transfer yuan from the Kazakh Bank CenterCredit to the Chinese Chouzhou Commercial. The transaction was blocked by Bank of China, which acts as a correspondent bank for the Kazakh credit institution.
Now Chouzhou is asking to send them Kazakh payments only from those banks with which they have direct correspondent relations. It is worth noting…
