China tightens Russia payments scrutiny, hitting electronics components, say Russian media [Reuters]
BANK OF CHINA UNSP/ADR (BACHY)
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Source: Reuters
Friday, with one saying transactions involving electronics components were being affected. Since late March, some Chinese banks have reportedly begun blocking payments from Russia, particularly for critical electronic components needed for servers, storage systems, and laptops, the Kommersant news outlet reported New Tab , opens new tab , citing market participants. Report this ad The move expanded previous restrictions that mainly targeted finished goods, it said. Experts cited by Kommersant said China was the only supplier for such parts, and that Russian companies assembling electronics could therefore face serious difficulties and production delays. Separately, the Izvestia news outlet reported New Tab , opens new tab that several Chinese banks such as Bank of China (3988.HK) New Tab , opens new tab (601988.SS) New Tab , opens new tab and Great Wall West China Bank were now asking Russian clients detailed questions about their transactions, including whether they
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