According to a report published by Bloomberg, the reason is that Chinese banking entities fear being sanctioned by the United States for cooperating with people and companies that appear on the North American country's sanctions list.
Specifically, at least two Chinese banks have decided to review their relationship with Russian businesses in recent weeks and are even considering ending relationships with those clients that are part of the US sanctions list.
It should be remembered that in December 2023, the United States Treasury Department warned that it would impose secondary sanctions on banks that processed transactions from Russian companies and individuals related to the war in Ukraine.
“It is a very sensitive issue,” acknowledges the Kremlin
Kremlin spokesman Dmitri Peskov has pointed out that this is a very sensitive issue, so it is unlikely that Chinese banks will be encouraged to detail what is happening.
Peskov has acknowledged, in statements reported by Reuters, that “it is a very, very sensitive area and it is unlikely that anyone will commit to talking about it; "You shouldn't expect that." However, the Kremlin spokesperson did emphasize that “we continue to develop relations with China. “It is a very important strategic partner.”
