The Russian Federation will no longer be able to cooperate with the Chinese bank Chouzhou Commercial Bank, which for a long time was the main one for Russian importers.
Another ally refused to cooperate with Russia
Russian media confirm this information regarding its anonymous business sources.
As it turned out, the managers of the Chinese bank informed the clients about the termination of relations with any Russian or Belarusian organizations as early as last week.
Because of this, we have already lost several deals, — the owner of one of the Russian companies complains to the propagandists.
Another insider, purchasing equipment for machine tools in China, said that in December in Chouzhou, he was informed about the suspension of payments for a specific list of goods, the import of which is prohibited to Russia by Western sanctions.
But in a few weeks, the institution's representative announced to the Russians the final termination of settlements with Russia, regardless of the products or the currency of payment.
What is essential to understand is that the Chinese bank Chouzhou has long been a critical settlement centre for importers due to relatively soft conditions.
The USA was able to deal a blow to the relations between Russia and China
As mentioned, in December 2023, American leader Joe Biden signed a decree that made it much easier for the Treasury Department to impose restrictions on banks that violate sanctions against Russia.
Turkish financial organizations were the first to react to this decision — they began actively disclosing contracts with the Russian Federation.
In January, similar problems began to arise with Chinese banks. In particular, China's state banks have decided to strengthen the conditions for providing services to Russian clients.
It is known that China did not officially support sanctions against Russia in response to its full-scale invasion of Ukraine.
