The December package of sanctions, which entered into force in December 2023, led to difficulties with calculations. Some recent observations from working with Chinese banks:
Three of the four largest Chinese banks have stopped accepting payments from Russia: Industrial and Commercial Bank of China (ICBC), China Construction Bank (CCB) and Bank of China; It's not about the payment method — for fear of secondary sanctions, Chinese banks do not accept payments through any payment system: SWIFT, Russian SPFS or Chinese CIPS; Companies that transport goods on their own face lengthy checks and money freezes from 14 to 40 days (for example, Zhejiang Chouzhou Commercial Bank, which works with many Russian importers); Most Chinese banks with representative offices abroad do not accept payments from Of Russia.
In general, even if banks have clear requirements for working with Russian companies, some branches of the same Bank of China accept payment, while others may refuse.
If you are just starting to work with China, then when you try to make a payment, you may be asked for all the data: information about the product and the final recipient, the HS codes and full information about you as the sender of the money.
The main pressure, of course, is on the sectional sectors, so check out the list of products in advance, which are likely to have problems paying for, at the link.
For us, this situation looks not like a refusal to work, but as a filtration of companies working with the military-industrial complex and sanctioned goods in particular, as well as implementing gray purchase schemes through individuals and sole proprietors in China.
If a company has been working with China for a long time and does not meet these criteria, then do not worry — the white business will continue to work, since the Chinese side is interested in doing business with Russia.
If you encounter any problems, please contact the TransGID team. We will issue a full package of permits, make the payment and deliver the cargo from From China to your warehouse.
, Send a request with a description of the cargo and route to msk@transgid.com