Prospects and options for solving the problem

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The issue of problems with money transfers was recently discussed during negotiations between the heads of Russia and China. First of all, mutual trade turnover suffers. In April alone, the decline in Chinese supplies to Russia was 13% compared to the same period in 2023. These are significant figures for the economy.

Experts see several possible scenarios:

Everything will remain as is. Large Chinese banks will not be exposed to the risk of falling under sanctions, so they will continue to avoid problematic transactions. But small regional banks are ready to cooperate with Russians. If they tighten up their compliance staff, then financial flows may even out.
A new currency will appear for settlements between dominican republic whatsapp number data countries. Many have high hopes for the creation of a single currency for the BRICS countries. It could become an excellent alternative to the dollar and yuan in settlements between Chinese and Russian partners. But for now, the project is only in development.
They will switch to rubles for mutual settlements. Large companies already conduct settlements in rubles. But many suppliers do not want to open ruble accounts. And they can be understood - this means additional complications with currency control, conversion, etc.

Important. A popular scheme now is transfers through third countries ( UAE , Kyrgyzstan , Kazakhstan ). But be careful, there are many scammers among the intermediaries who will disappear as soon as you transfer money to them.

There are many offers on the market from Russian agents and individuals who promise to help with transfers for a fee - 6-10% of the transfer amount. Trusting unverified intermediaries is dangerous - in case of fraud, it is unlikely that you will be able to prove anything and get your money back.



agents - blocking business when paying for goods from China

Agents' services are not cheap



In the current situation, many Russian importers prefer to pay for Chinese goods through foreign trade companies. This is a working method if the commission is moderate and all agreements are documented.



Checklist: What to do now
To minimize risks when transferring to China, follow this strategy:

If you transfer payment to a supplier by card or via Alipay (independently or through intermediaries), allow more time for the purchase. So that there is a reserve in terms in case of blocking.
Do not transfer money from Russian banks that are included in the sanctions lists.
Don't transfer money to large Chinese banks - 99% of the time the payment will be returned.
Please temporarily refrain from official delivery of sanctioned goods and dual-use goods - they cannot be paid for from a Russian currency account.