Due to international sanctions, Chinese banks refuse to conduct transactions with the participation of Russian companies, Russian News Agency TASS reported, citing the head of the Central Bank of Russia in China, Vladimir Danilov.

“There are problems associated with an extended interpretation of a number of Chinese banks restrictive measures of third countries against the Russian Federation,” said Danilov. “Commercial banks in the PRC often allude to the sanctions of the EU and the United States, cited as the reasons for the denial of service of customer payments by ussian banks, which have no reason.”

He added that the current financial structure “in general, allows meeting the needs of the business.”