Key Chinese Bank Stops Accepting Payments From Russia

Because of EU sanctions.

China's Heihe Rural Commercial Bank stopped accepting payments from Russia after it was hit by EU sanctions, sources in two domestic banks and representatives of the companies that faced the problem told Vedomosti.

According to one of the importers, payments to Heihe had been running normally for a month after the restrictions were imposed, but last week the bank stopped accepting money. Heihe explained this by "setting up internal infrastructure."

At the same time, according to the head of the international project support practice of the law firm A-Pro Dmitry Dvoretsky, Heihe began suspending work with Russian banks as early as August 11. The expert explained that the pause of two weeks before the complete cessation of work could be due to the coordination within the credit organization and with the People's Bank of China. At the same time, according to the CEO of payment agent Money Roo Alexei Ostanin, other Chinese banks are refusing to accept money from Heihe after it was put on the EU sanctions list. The bank does not yet know what to do about it, and therefore does not accept payments from Russia, Ostanin noted.

You can support the website Charter97.org

MULTI-CURRENCY ACCOUNT FOR ASSISTANCE:

Bank's name: Bank Millennium S.A.
Address: ul. Stanislawa Zaryna, 2A, 02-593, Warszawa
IBAN: PL97116022020000000216711123
SWIFT: BIGBPLPW
Name of the account holder: Fundacja “KARTA ‘97”
Purpose/title of payment: Donation for statuary aims

You can contact us by the e-mail charter97@gmail.com