Nearly all Chinese banks are refusing to process payments from Russia, report says
Nearly all Chinese banks are refusing to process payments from Russia, report says
Almost all Chinese banks, even small regional ones, are refusing to accept direct transactions from Russia, business execs have told Russian media.
The impact of the West's sanctions just seems to be getting worse and worse for Russia.
Now, 98% of Chinese banks — even small regional ones — are refusing to accept direct Chinese payment transfers from Russia, Alexey Razumovsky, the commercial director of the payments company Impaya Rus, told the pro-Kremlin media outlet Izvestia.
Such issues appear to have intensified over the past three weeks, as smaller Chinese financial companies were still processing Russian payments in May and June, Izvestia reported.
Last month, the Russian outlet Kommersant reported that about 80% of bank transfers made in the Chinese yuan were bouncing back with no explanation after being stalled for weeks while banks decided whether they could transact.
Razumovsky told Izvestia the payment challenges with Chinese banks could contribute to supply-chain difficulties and inflation in Russia.
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This is no problem for Russia since their economy is booming! As the tankies on Lenny repeatedly has reminded me, sanctions has no effect att all!
Who's Lenny?
The Russian version of Lemmy
...or auto correct 😁
The guitarist from Notörhead
Lenny Kilnister?!
!Also, Lemmy played bass.!<
Technically still a guitarist
For some reason it's really hard to teach Gboard not to autocorrect Lemmy to Lenny.
They started buying weapons from N Korea with goats. Nothing signifies a strong economy like hocking food.
War Economy is still economy. Right? RIGHT?!
laughs in American post-WW2 propaganda
I assure you that a handful of well-positioned arms dealers in Russia are getting extraordinarily wealthy. I just wouldn't want to be one of the kids of a 20-something young man who has been shipped to the front right now, cause they're growing up broke as shit.
I mean they were broke as shit before, Russia has been broke as shit since the 90s.
'91 is the year that privatization started in earnest.
The most booming economy.
Some people have likened the economic growth that Russia is experiencing like that of the US' post war boom. So, some analysts believe that Russia will be okay for the foreseeable future. I don't want to sound coping and I still leave room for imagining other possibilities (the war is still unpredictable after all), but those analysts haven't considered that 1) USA became the sole major free market economy untouched after World War 2 and the rest of the world became reliant on US as the result. 2) USA has not been sanctioned during and after the war by major Western powers, unlike Russia is today.
Russia has already won.
Economy. War.
Wars.
Democracy.
GDP.
Everything.
Why the hell are people downvoting this one, it seems pretty obvious that it's sarcasm
Granted it does not follow the 3+1 joke formula.