Bank of China restricts Russian clients' ability to transfer yuan

The Russian service of Radio Liberty reported this, citing propaganda media. 

A number of Russian banks have notified their clients that the Bank of China (Russia) has stopped accepting customer payments for the transfer of funds in yuan.

A representative of one of the Russian banks said that the restriction affected not only the yuan, but also the dollars, euros, and Hong Kong dollars.

The representative believes that the restrictions were imposed because of secondary sanctions against Russia, and that the decision was made not by China, but by the United States and the European Union.

Nevertheless, Russian experts note that the share of remittances in yuan to the EU and the US is small and mostly concerned private investors and business representatives.

• The European Union has blocked over EUR 200 billion in assets of Russia's central bank since Moscow launched its full-scale invasion of Ukraine.