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Nearly all Chinese banks are refusing to process payments from Russia, report says (www.businessinsider.com)

submitted 3 months ago by lemmee_in@lemm.ee to c/world@lemmy.world

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The impact of the West's sanctions just seems to be getting worse and worse for Russia.

Now, 98% of Chinese banks — even small regional ones — are refusing to accept direct Chinese payment transfers from Russia, Alexey Razumovsky, the commercial director of the payments company Impaya Rus, told the pro-Kremlin media outlet Izvestia.

Such issues appear to have intensified over the past three weeks, as smaller Chinese financial companies were still processing Russian payments in May and June, Izvestia reported.

Last month, the Russian outlet Kommersant reported that about 80% of bank transfers made in the Chinese yuan were bouncing back with no explanation after being stalled for weeks while banks decided whether they could transact.

Razumovsky told Izvestia the payment challenges with Chinese banks could contribute to supply-chain difficulties and inflation in Russia.

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[-] DaddleDew@lemmy.world 155 points 3 months ago

Between that, his US lap dog Trump looking like he's going to lose the elections badly, and Ukraine taking control of more Russian territory in a week than they have been able to take from Ukraine in months, Putin is definitely not sleeping well right now.

[-] Crewman@sopuli.xyz 164 points 3 months ago

Nobody thought Trump would win the first time, Ukraine is still in rough shape, and this could be a new way to avoid sanctions. I like the optimism, but there are reasons to be skeptical.

[-] Aurenkin@sh.itjust.works 58 points 3 months ago

Thanks for keeping it real. We can celebrate the wins but absolutely cannot become complacent.

[-] Lucidlethargy@sh.itjust.works 23 points 3 months ago* (last edited 3 months ago)

This is emphatically false. I knew Trump had a chance, and so did countless others. I voted for Hillary despite really disliking her because of this.

Only idiotic democrats were overconfident enough to think he couldn't win.

[-] FlyingSquid@lemmy.world 9 points 3 months ago

I also thought there was a good chance he could win. I hoped he wouldn't, but I sure didn't think it was even close to an impossibility.

[-] AngryCommieKender@lemmy.world 9 points 3 months ago* (last edited 3 months ago)

As long as the Electoral College exists, there remains an almost 1 in 5 chance that the will of the American people will be overturned.

[-] AA5B@lemmy.world 7 points 3 months ago* (last edited 3 months ago)

Sure, I’ll admit it. Of course I voted and encouraged anyone to, but the guy was a long time real estate con man known for not paying his vendors and for questionably complex tax avoidance. He bankrupted a casino, twice, and was known for a gold toilet. His biggest claim to fame was a huge misplaced ego. Have you listened to his speeches? How could anyone have taken his candidacy seriously, voted for him, expected him to win?

I prefer to think of it as giving a naive amount of credit to my fellow voters. They must have been “breaking shit” out of frustration and would vote seriously in the actual election. Nope

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[-] mindlight@lemm.ee 30 points 3 months ago

The latest national numbers I saw was Harris 48 / Trump 47. That's not "Trump looking like he's going to lose badly".

[-] Worx@lemmynsfw.com 23 points 3 months ago

Well, there's no way he's going to lose gracefully

(I know that's not how you meant it)

[-] NateNate60@lemmy.world 13 points 3 months ago

I'm honestly quite concerned that his cronies might actually succeed in stealing the election this time around.

They learned from their mistakes.

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[-] mindlight@lemm.ee 8 points 3 months ago

Can we agree on him not being capable of doing anything gracefully? 😁

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[-] UnderpantsWeevil@lemmy.world 21 points 3 months ago* (last edited 3 months ago)

his US lap dog Trump looking like he’s going to lose the elections badly

Eh, we'll see. Trump's "crushing defeat" of Hilary came down to 80k votes in three states. Biden's "decimation" of Trump was an even-thinner 40k votes across a slightly different mix of three states.

Dems love to snatch defeat from the jaws of victory. Just ask OG Tankie Michael Dukakis, Professional Wife-Kisser Al Gore, and Future First Woman President Hilary Clinton. All three gave up wide margins in the last few weeks of the race.

Would be nice to see Dems run up Reagan/LBJ-esque margins in 2024, but even the best polls still have Kamala in an electoral dead heat despite being miles ahead in the popular vote. She could very easily get Bush v Gore'd in some swing state with a red governor like Georgia or North Carolina or Nevada.

[-] frezik@midwest.social 14 points 3 months ago* (last edited 3 months ago)

It's not just that Dems have to win by +5% to make sure the Electoral College matches the popular vote, either. Now it almost has to be +7% to +10% to keep Republican election officials from contesting the result and it mattering in the end.

The Electoral College was bad enough. Its only justification is "whelp, them the rules". Now Republicans made up a new set of rules and expect us to follow them.

OG Tankie Michael Dukakis

I was too young to have memories of the Dukakis run. Was he actually a tankie in the Hexbear sense, or are you just referencing that picture of him riding a tank?

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[-] Fades@lemmy.world 13 points 3 months ago* (last edited 3 months ago)

Yes, DO NOT GET COMFY, VOTE NO MATTER WHAT.

Now that I got that out of the way, yes yes yes, it can always be close and I think it will be just like it was close even in 20 goddamn 20, but here's the thing.

Since the 2020 election:

january 6
asking for more votes than he had from governors
stole confidential docs, lied about it, refused to give it up, was raided and still docs are missing, nuclear secrets shared to fat fucking foreign oligarchs simply because they paid to hang out at MAL. Many of America's informants and spies started getting captured in disturbing trends out of nowhere...
SA/Rape case with EJCarrol (judge officially wrote Donny was civilly liable for digital rape because she couldn't prove it was his penis vs his finger), the multiple defamation cases that followed
Felony conviction for election interference
RICO case in Georgia for trying to steal votes
Killed Roe precedent
project 2025
extreme side-effects of his frontotemporal dementia impossible to ignore by even laypeople
He has said he will be a dictator on day 1
Spoke about wanting to split up NATO
Told Netanyahu to finish the job
Clearly loves Putin, Xi, Kim, Maduro, etc. (dictator fascists, what he dreams of becoming)
Switches views based on who is paying him (asked oil barons for a billion dollars to destroy whatever regs they wanted, Elon starts donating and Trump tells us he has to shill for EVs now, hated TikTok until Thiel (who owns stock related to TT) talked him into supporting it

I'm happy to provide sources on any of the above points :)

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[-] mindlight@lemm.ee 131 points 3 months ago

This is no problem for Russia since their economy is booming! As the tankies on Lenny repeatedly has reminded me, sanctions has no effect att all!

[-] LavenderDay3544@lemmy.world 17 points 3 months ago

Who's Lenny?

[-] hakunawazo@lemmy.world 43 points 3 months ago

[-] mindlight@lemm.ee 14 points 3 months ago

The Russian version of Lemmy

...or auto correct 😁

[-] AngryCommieKender@lemmy.world 12 points 3 months ago

The guitarist from Notörhead

[-] OlinOfTheHillPeople@lemmy.world 7 points 3 months ago* (last edited 3 months ago)

Lenny Kilnister?!

!Also, Lemmy played bass.!<

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[-] lolcatnip@reddthat.com 7 points 3 months ago* (last edited 3 months ago)

For some reason it's really hard to teach Gboard not to autocorrect Lemmy to Lenny.

[-] jimbolauski@lemm.ee 15 points 3 months ago

They started buying weapons from N Korea with goats. Nothing signifies a strong economy like hocking food.

[-] FMEEE@lemmy.dbzer0.com 10 points 3 months ago

War Economy is still economy. Right? RIGHT?!

[-] UnderpantsWeevil@lemmy.world 8 points 3 months ago

laughs in American post-WW2 propaganda

I assure you that a handful of well-positioned arms dealers in Russia are getting extraordinarily wealthy. I just wouldn't want to be one of the kids of a 20-something young man who has been shipped to the front right now, cause they're growing up broke as shit.

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[-] N0body@lemmy.dbzer0.com 56 points 3 months ago

The slow-moving dildo of sanctions rarely comes lubed.

[-] Cyberjin@lemmy.world 41 points 3 months ago

Most be really bad now when China stop helping them lol

[-] LustyArgonianMana@lemmy.world 26 points 3 months ago* (last edited 3 months ago)

Yeah China was staunchly neutral about this war and I suspected was subtly making it worse/prolonging it to keep the west distracted, wasting money, and divided while they put pressure on Taiwan and other interests.

But this is weird. I hope they aren't doing this to keep funds in the country for their own eminent war.

[-] frezik@midwest.social 23 points 3 months ago* (last edited 3 months ago)

Maybe China just got sick of Russian checks bouncing. They weren't helping Russia because they like each other.

[-] LustyArgonianMana@lemmy.world 7 points 3 months ago* (last edited 3 months ago)

Well they do kinda "like" each other in that they rely on each other. They make trades with each other and their economies rely on each other. That will affect China. These are the types of reasons we are helping Ukraine, its not like we "liked" them or that geopolitics is ever based on "liking" per se. Anyway, it's super weird.

[-] Dead_or_Alive@lemmy.world 40 points 3 months ago* (last edited 3 months ago)

There is a rumor that a coup had placed Xi under house arrest and had silently taken over the country a few weeks ago. Normally rumors don’t mean anything in most countries. But this is China where anyone speaking out against their leader would mean you’d get “disappeared”.

Supposedly the coup plotters don’t like the direction China has taken and want a return to good relations with the West when everyone was making money.

Moving away from relations with Russia could be a sign of this.

[-] awesome_lowlander@lemmy.dbzer0.com 49 points 3 months ago

Those rumours have been around for years, every time he drops out of public view for a while

[-] TankovayaDiviziya@lemmy.world 24 points 3 months ago

The rumour of coups against Xi always comes and goes. There was rumour of Xi being arrested as well during COVID.

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[-] chonglibloodsport@lemmy.world 38 points 3 months ago

Between this and the looming collapse of the Russian rail network (due to lack of maintenance and supply chain issues for rolling stock parts), it’s finally looking really good for Ukraine. Now we just need Kamala to win so that they keep getting supplies for the campaign.

If everything goes right, Ukraine could topple the Putin regime. Kind of crazy to think about right now though.

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[-] UnrepententProcrastinator@lemmy.ca 25 points 3 months ago

We must never forget how much it matters to understand that the war is against the Russian government and that us and the Russian people are the victims of that government.

[-] NoiseColor@startrek.website 23 points 3 months ago

Though times ahead for them. It took some time, but maybe we are at least close to the end now.

[-] FlyingSquid@lemmy.world 21 points 3 months ago

I don't have a Chinese Riker, sorry.

[-] AngryCommieKender@lemmy.world 12 points 3 months ago

I tried to make one, but ironically, all the famous Chinese trombone players have copyright protection on their images, so I couldn't.

[-] resetbypeer@lemmy.world 18 points 3 months ago

But.....but....but we are besties, Xi jinping ? - Putin probably

[-] vxx@lemmy.world 12 points 3 months ago

Something's happening in China. There's talks that Xi doesn't appear on official documents anymore.

Maybe a soft coup happened or similar.

[-] OlinOfTheHillPeople@lemmy.world 48 points 3 months ago

That's a pretty bold statement. Do you have a source?

[-] vxx@lemmy.world 11 points 3 months ago* (last edited 3 months ago)

Maybe I shouldn't have said that, since there obviously isn't an official source on it, just some YouTube channels reporting about China that claim it.

Well. They're claiming it for two years already, but this time seems different.

So it's not to be taken seriously and is just a gut feeling fueled by the YouTube algorhythms and news like this post.

I suppose time will tell.

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[-] CeeBee_Eh@lemmy.world 8 points 3 months ago* (last edited 3 months ago)

https://youtu.be/OAJ5enTb0vo

Nothing official. Mostly speculation, but not ~~illogical~~ idle ones.

[-] Etterra@lemmy.world 11 points 3 months ago

Wow, tough break guys. I'd offer to help you out, but all I've got is half a roll of quarters and I need to use that for laundry. Good luck though.

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[-] tilefan@lemm.ee 9 points 3 months ago

so there's a hole in the market and I can make a lot of money?

[-] Chewget@lemm.ee 11 points 3 months ago

In this instance there would be real consequences

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this post was submitted on 15 Aug 2024

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