Russian Sberbank halts processing payments in Chinese yuan

Moscow: Russia’s largest bank Sberbank has stopped processing transactions under foreign trade contracts in Chinese national currency, yuan, the bank told Sputnik, adding that they are working with Chinese partners to fix the problem.

“Sberbank temporarily suspended transactions in Chinese yuan starting June 7. This temporary measure affected corporate clients – participants of foreign economic activities making payments in Chinese yuan. The bank is currently working with Chinese partners to resolve the situation and resume transactions,” Sberbank said on Wednesday.
The call-center operator of SberBusiness, Sberbank’s service for corporate clients and entrepreneurs, confirmed to Sputnik that the yuan transactions are temporarily unavailable, adding that the bank has no deadline when the problem will be fixed. It is still possible to carry out payments through Sberbank’s partners and other authorized banks, the operator noted.
The suspension did not affect Sberbank’s transactions in other national currencies. (UNI/SPUTNIK)