10:33 - 28.08.2024

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August 28, Fineko/abc.az. Since the beginning of August, banks in the United Arab Emirates have been rejecting payments from Russian companies for electronic components and consumer electronics from China.

ABC.AZ reports that the payment chain has been complicated by the risks of secondary sanctions.

Transactions are rejected in cases where the paid products do not enter the UAE.

According to sources, Russian organizations used companies in this country as a way to transfer money to Chinese firms, but the goods were sent directly to Russia.

Payments through the UAE were profitable due to low commission fees. According to the information, the blockade is initiated by the Chinese side.