Tightening the screws. China’s Chouzhou Commercial Bank is no longer conducting transactions with Russian and Belarusian clients, Russian business daily Vedomosti reported. Transactions using not only the SWIFT payment system but also Russia’s SPFS and China’s CIPS are affected. The bank is one of the main payment methods used by Russian importers. Several financial institutions […]
Daily Memo: Another Bank Blocks Russian Clients
U.S. measures to prevent Moscow from circumventing sanctions seem to be working.
