The Bank of China is increasingly blocking yuan transactions from Russia’s list of «friendly» countries, including Kazakhstan. This happens against the backdrop of strengthened compliance procedures aimed at avoiding secondary sanctions, according to RBC, a Russian news agency. Experts suggest that the exceptional caution of Chinese banks is a response to increased regulatory pressure and tightened international requirements.
Like many other financial institutions across the region, Chinese banks are tightening their control over transactions that might be linked to Russian counterparties or payments related to deliveries to Russia. Indicatively, the Chouzhou Bank and the Bank of China have blocked several...