Russian Central Bank: certain Chinese credit entities treat sanctions 'broadly'

Russian Central Bank: certain Chinese credit entities treat sanctions 'broadly'

Certain Chinese commercial banks still interpret sanctions introduced by third states against Russia too broadly, the head of the Russian Central Bank's department in China, Vladimir Danilov, said on Wednesday, Sputnik reports.

"There is a range of problems related to the fact that a number of Chinese commercial banks interpret the sanctions introduced against Russia too broadly," Danilov said at the Investment and Financial Capacities at the Russian Capital Market Forum.

He specified that the Russian Central Bank was engaged in regular related discussions with the People's Bank of China.

"The events that happened literally two or three days ago show that this problem exists. Two days ago we were solving this problem. The Russian [Central] Bank has sent a related explanation to the People's Bank of China. The People's Bank of China, in its turn,…. has communicated these explanations to its commercial banks," Danilov added.

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