Chinese banks stop making payments to Russia in dollars

Many Chinese banks stopped making any payments to Russia in dollars after the United States officially strengthened sanctions against Moscow in December 2023, Report informs, citing Izvestiya newspaper.

All payments in dollars are made through correspondent accounts opened in American banks, regardless of the country of the recipient and the sender, so they are easily tracked.

At the same time, Chinese credit institutions are still interested in making payments in national currencies. Izvestiya sources said that now payments in rubles and yuan are made in the usual format.