Almost all Chinese banks, even small regional ones, are refusing to accept direct transactions from Russia, business execs have told Russian media.

The impact of the West’s sanctions just seems to be getting worse and worse for Russia.

Now, 98% of Chinese banks — even small regional ones — are refusing to accept direct Chinese payment transfers from Russia, Alexey Razumovsky, the commercial director of the payments company Impaya Rus, told the pro-Kremlin media outlet Izvestia.

Such issues appear to have intensified over the past three weeks, as smaller Chinese financial companies were still processing Russian payments in May and June, Izvestia reported.

Last month, the Russian outlet Kommersant reported that about 80% of bank transfers made in the Chinese yuan were bouncing back with no explanation after being stalled for weeks while banks decided whether they could transact.

Razumovsky told Izvestia the payment challenges with Chinese banks could contribute to supply-chain difficulties and inflation in Russia.

  • @[email protected]English
    165•4 months ago

    Nobody thought Trump would win the first time, Ukraine is still in rough shape, and this could be a new way to avoid sanctions. I like the optimism, but there are reasons to be skeptical.

    • @[email protected]English
      59•4 months ago

      Thanks for keeping it real. We can celebrate the wins but absolutely cannot become complacent.

    • @[email protected]English
      28•4 months ago

      This is emphatically false. I knew Trump had a chance, and so did countless others. I voted for Hillary despite really disliking her because of this.

      Only idiotic democrats were overconfident enough to think he couldn’t win.

      • Flying SquidMEnglish
        10•4 months ago

        I also thought there was a good chance he could win. I hoped he wouldn’t, but I sure didn’t think it was even close to an impossibility.

        • @[email protected]English
          9•4 months ago

          As long as the Electoral College exists, there remains an almost 1 in 5 chance that the will of the American people will be overturned.

      • @[email protected]English
        6•4 months ago

        Sure, I’ll admit it. Of course I voted and encouraged anyone to, but the guy was a long time real estate con man known for not paying his vendors and for questionably complex tax avoidance. He bankrupted a casino, twice, and was known for a gold toilet. His biggest claim to fame was a huge misplaced ego. Have you listened to his speeches? How could anyone have taken his candidacy seriously, voted for him, expected him to win?

        I prefer to think of it as giving a naive amount of credit to my fellow voters. They must have been “breaking shit” out of frustration and would vote seriously in the actual election. Nope

    • @[email protected]English
      7•4 months ago

      Indeed, Russia still has some currency reserves, the shadow gas fleet, huge increase in domestic production of arms, and has some how kept it’s GDP growth up. Not that it doesn’t have issues on it’s horizon, but time is still there to wiggle around them. Also you are correct about Ukraine, many reasons to be enthusiastic, but Winter still looks like it might be rough.

      And Trump, well yea still many days to the election and he may yet pull Vance’s thumb out of his ass. Can’t say I don’t like the nice poll numbers from swing states though, seems like Harris has some good appeal to the swing voters.