The restrictions have been introduced by the Industrial and Commercial Bank of China (ICBC), the China Construction Bank (CCB), and the Bank of China, the Russian state news outlet Izvestiya said.
The restrictions have been introduced by the Industrial and Commercial Bank of China (ICBC), the China Construction Bank (CCB), and the Bank of China, the Russian state news outlet Izvestiya said.
China’s Chouzhou Commercial Bank has notified its clients that it is suspending operations with Russia, the Russian business daily Vedomosti reported on Wednesday, citing financial consultants and businessmen who work with the bank.
Major Chinese banks have reportedly strengthened their compliance with Western sanctions after new U.S. restrictions targeting financial institutions that help support Russia's war effort were announced in December 2023.