Payments from and to China for already delivered goods began to be returned to some Russian businessmen. "Vedomosti" writes about the problems in economic relations between Russia and China, referring to entrepreneurs, as well as law firms, freight forwarders, etc.
The publication tells of a refund in yuan three months later, after the goods had been received and cleared from customs. There are many other such cases of refunds after customs clearance. There are also cases where the Chinese buyer has nevertheless notified that he cannot receive the payment from the bank and therefore returns the delivery.
The Nordic Star law firm has commented that their clients have faced similar problems, but it is not widespread. The commercial director of the forwarder RM Logistics Evgeniy Farenets states exactly the opposite - such cases are becoming widespread.
According to him, the following often happens: the Chinese supplier, after partial prepayment, sends the goods to the Russian buyer with the condition of full payment within five days after shipment, but then there is a problem with the payment by the bank in China. The funds are stuck in the bank, the cargo is in port or somewhere else. In some cases, customs clearance is carried out and the parties agree on alternative payment schemes.
Problems with Russian payments in China have been observed for more than six months. This comes amid tightening Western restrictions and, in particular, threats of secondary US sanctions on banks. Among the new problems reported in July-August are the reluctance of banks in China to work with the yuan, which is linked to Russia, or the refusal of small Chinese banks to accept Russian payments.
President Vladimir Putin says sanctions against third countries are illegitimate and "beyond the scope of common sense". He assessed the situation as harmful to the world economy and asked for solutions supported at the state level.