So far, several Russian and Belarusian banks and their subsidiaries have been excluded from the SWIFT system, and several Russian banks have been added to the "Specially Designated Nationals List" (SDN List) and the EU's consolidated list of financial sanctions。
Although we can currently use cross-border RMB to collect payment from Russian buyers, if the payment bank is involved in the sanctioned bank, there is a high probability that the payment will be returned。After all, Chinese banks do not want overseas branches to be affected, resulting in their own interests。
Therefore, when we take orders from Russia, if we encounter a Russian buyer to pay for goods in RMB for the first time, we suggest:
1.The exporter first asks the customer to contact his payment bank to check whether he is on the sanctions list in Europe and America;
2.Not on the sanctions list, and then ask the customer whether they support RMB payment;
3.On the other hand, please contact the domestic bank to confirm whether it can accept RMB payment from Russia。
4. Cooperate with the bank to prepare other required instructions and documents。
If you are on the sanctions list, please contact us。