{"id":11909,"date":"2025-03-10T03:40:17","date_gmt":"2025-03-10T03:40:17","guid":{"rendered":"https:\/\/www.supplyia.com\/?p=11909"},"modified":"2025-04-02T00:24:43","modified_gmt":"2025-04-02T00:24:43","slug":"send-money-to-china-from-russia","status":"publish","type":"post","link":"https:\/\/www.supplyia.com\/send-money-to-china-from-russia\/","title":{"rendered":"China Banks Russia Sanctions: How to Send Money to China from Russia?"},"content":{"rendered":"<p><span style=\"font-family: Open Sans;\">After Chinese local banks started refusing payments from Russia, over 98% of Chinese banks no longer accept direct transfers from Russian businesses. <\/span><\/p>\n<p><span style=\"font-family: Open Sans;\">This has led to serious challenges in the payment process, potentially affecting goods supply to Russia and causing price hikes.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_17 counter-hierarchy counter-roman ez-toc-grey\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" style=\"display: none;\"><i class=\"ez-toc-glyphicon ez-toc-icon-toggle\"><\/i><\/a><\/span><\/div>\n<nav><ul class=\"ez-toc-list ez-toc-list-level-1\"><li class=\"ez-toc-page-1 ez-toc-heading-level-2\"><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.supplyia.com\/send-money-to-china-from-russia\/#Direct_Payments_are_No_Longer_an_Option\" title=\"Direct Payments are No Longer an Option\">Direct Payments are No Longer an Option<\/a><\/li><li class=\"ez-toc-page-1 ez-toc-heading-level-2\"><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.supplyia.com\/send-money-to-china-from-russia\/#Alternative_Payment_to_China_from_Russia_Methods\" title=\"Alternative Payment to China from Russia Methods\">Alternative Payment to China from Russia Methods<\/a><ul class=\"ez-toc-list-level-3\"><li class=\"ez-toc-heading-level-3\"><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.supplyia.com\/send-money-to-china-from-russia\/#1_Payment_Through_Invoicing_10-13_Fee\" title=\"1. Payment Through Invoicing (10-13% Fee)\">1. Payment Through Invoicing (10-13% Fee)<\/a><\/li><li class=\"ez-toc-page-1 ez-toc-heading-level-3\"><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.supplyia.com\/send-money-to-china-from-russia\/#2_Payments_via_Alibaba_International_Accounts\" title=\"2. Payments via Alibaba International Accounts\">2. Payments via Alibaba International Accounts<\/a><\/li><li class=\"ez-toc-page-1 ez-toc-heading-level-3\"><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.supplyia.com\/send-money-to-china-from-russia\/#3_Third-Country_Payment_Agents\" title=\"3. Third-Country Payment Agents\">3. Third-Country Payment Agents<\/a><\/li><li class=\"ez-toc-page-1 ez-toc-heading-level-3\"><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.supplyia.com\/send-money-to-china-from-russia\/#4_Russian_Bank_Branches_in_China\" title=\"4. Russian Bank Branches in China\">4. Russian Bank Branches in China<\/a><\/li><\/ul><\/li><li class=\"ez-toc-page-1 ez-toc-heading-level-2\"><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.supplyia.com\/send-money-to-china-from-russia\/#Import_from_China_Background\" title=\"Import from China Background\">Import from China Background<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Direct_Payments_are_No_Longer_an_Option\"><\/span><span style=\"font-family: Open Sans;\"><strong>Direct Payments are No Longer an Option<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-family: Open Sans;\">During May and June, local Chinese banks were still cooperating with Russian businesses, and payments were relatively stable. <\/span><\/p>\n<p><span style=\"font-family: Open Sans;\">However, since July 20, payments have almost been completely suspended. More than 98% of Chinese banks are no longer accepting direct payments from Russia.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p style=\"text-align: center;\"><iframe src=\"\/\/www.youtube.com\/embed\/OcU83npJCsc?t=9s\" width=\"560\" height=\"314\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Alternative_Payment_to_China_from_Russia_Methods\"><\/span><span style=\"font-size: 24pt; font-family: Open Sans;\"><strong>Alternative Payment to China from Russia Methods<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-family: Open Sans;\">With these challenges, Russian companies now have to find alternative ways to send payments to Chinese suppliers.<\/span><\/p>\n<p><span style=\"font-family: Open Sans;\">Below are some of the available methods:<\/span><\/p>\n<p>&nbsp;<\/p>\n<h3><span class=\"ez-toc-section\" id=\"1_Payment_Through_Invoicing_10-13_Fee\"><\/span><span style=\"font-family: Open Sans;\"><strong>1. Payment Through Invoicing (10-13% Fee)<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-family: Open Sans;\">If a Russian company wants to pay in RMB (Chinese Yuan), the payment can be made through invoicing. However, this method comes with an additional charge of 10-13%. This option is typically used when companies wish to settle payments directly in Chinese currency, bypassing bank restrictions.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h3><span class=\"ez-toc-section\" id=\"2_Payments_via_Alibaba_International_Accounts\"><\/span><span style=\"font-family: Open Sans;\"><strong>2. Payments via Alibaba International Accounts<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-family: Open Sans;\">Another solution is through Alibaba\u2019s international platform. Suppliers who have Alibaba international accounts can accept certain types of Russian currency via special channels set up by Alibaba. This payment method was specifically developed by Alibaba to help Russian businesses manage payments amidst current banking restrictions.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h3><span class=\"ez-toc-section\" id=\"3_Third-Country_Payment_Agents\"><\/span><span style=\"font-family: Open Sans;\"><strong>3. Third-Country Payment Agents<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-family: Open Sans;\">Many Russian companies have been turning to third-country payment agents to facilitate transactions to China. These agents handle the payments by using intermediary countries such as Hong Kong to process the money. Over the past few weeks, the number of payment requests using third-country agents has increased significantly.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h3><span class=\"ez-toc-section\" id=\"4_Russian_Bank_Branches_in_China\"><\/span><span style=\"font-family: Open Sans;\"><strong>4. Russian Bank Branches in China<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-family: Open Sans;\">Another possible option is to use Russian banks\u2019 branches in China. However, this method involves additional costs, as these branches sell RMB at a 5% surcharge based on the Central Bank&#8217;s exchange rate. Additionally, many Chinese companies do not accept payments from these Russian bank branches.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Import_from_China_Background\"><\/span><span style=\"font-family: Open Sans;\"><strong>Import from China Background<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-family: Open Sans;\">Due to banking issues caused by Western sanctions, Russia and China may resort to barter trade in the autumn. The suspension of payments has impacted bilateral trade, and several smaller Chinese banks, particularly those near the Russian border, are restricting the conversion of rubles into yuan.<\/span><\/p>\n<p><span style=\"font-family: Open Sans;\">Many banks in countries trading with Russia are increasingly delaying or refusing payments, fearing secondary sanctions. To address this, during President Vladimir Putin&#8217;s visit to China, both countries explored alternative payment options to circumvent sanctions.<\/span><\/p>\n<p><span style=\"font-family: Open Sans;\">Since June 24, the Russian subsidiary of the Bank of China has suspended all transactions with Russian banks due to U.S. sanctions. This has further complicated payment processing between the two countries.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>After Chinese local banks started refusing payments from Russia, over 98% of Chinese banks no longer accept direct transfers from Russian businesses. This has led to serious challenges in the payment process, potentially affecting goods supply to Russia and causing price hikes. &nbsp; &nbsp; Direct Payments are No Longer an Option During May and June, &hellip; <a href=\"https:\/\/www.supplyia.com\/send-money-to-china-from-russia\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">China Banks Russia Sanctions: How to Send Money to China from Russia?<\/span> <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":11577,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[1],"tags":[],"class_list":["post-11909","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-how-to-source-from-china"],"_links":{"self":[{"href":"https:\/\/www.supplyia.com\/wp-json\/wp\/v2\/posts\/11909","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.supplyia.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.supplyia.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.supplyia.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.supplyia.com\/wp-json\/wp\/v2\/comments?post=11909"}],"version-history":[{"count":9,"href":"https:\/\/www.supplyia.com\/wp-json\/wp\/v2\/posts\/11909\/revisions"}],"predecessor-version":[{"id":12030,"href":"https:\/\/www.supplyia.com\/wp-json\/wp\/v2\/posts\/11909\/revisions\/12030"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.supplyia.com\/wp-json\/wp\/v2\/media\/11577"}],"wp:attachment":[{"href":"https:\/\/www.supplyia.com\/wp-json\/wp\/v2\/media?parent=11909"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.supplyia.com\/wp-json\/wp\/v2\/categories?post=11909"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.supplyia.com\/wp-json\/wp\/v2\/tags?post=11909"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}