⚡️Russian-rooted companies🇷🇺 face payment difficulties due to sanctions

⚡️Russian-rooted companies🇷🇺 face payment difficulties due to sanctions

US sanctions have led to payment delays in banks in Turkey🇹🇷, China🇨🇳, and other countries trading with Russia.

➡️ The average delay for payments is currently 10 to 16 days.

➡️Many transactions with China can now only be processed through intermediaries in Kazakhstan🇰🇿 and Uzbekistan🇺🇿. As a result, foreign currency, including yuan, does not reach Russia.

➡️ Additionally, transport companies ПЭК, Digital ВЭД, GTL, and Logita Trade reported that Central Asian banks are more frequently rejecting payments to Russian companies.

➡️ The Indian rupee remains not fully convertible. In trade with India🇮🇳, Russia uses dollars, euros, UAE dirhams, and yuan.

➡️ Transactions with Turkey are somewhat simpler, as they are primarily conducted in rubles.

➡️ Bloomberg reports that cryptocurrency transactions through Hong Kong🇭🇰 are gaining popularity.

➡️ Do the barter transactions or currency swaps proposed by the Ministry of Economy last year to avoid restrictions work❕ - Yes, but negotiating prices for goods and services in barter transactions also causes delays. As for swaps, specialized knowledge is required, making the process more energy-intensive.

#news #bad_news #Russia

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