Financial institutions in the United Arab Emirates have changed their policy towards Russian companies. Starting in August, UAE banks, especially in Dubai, began refusing to make payments for electronic components and household appliances ordered by Russian companies. This was reported by Komersant ukrainskyi
reports with reference to Russian media.
According to representatives of the electronics market, the UAE used to play a key role in the scheme of importing equipment from China to Russia. Russian companies used UAE banks to pay for Chinese goods, which were then shipped directly to Russia. This scheme was attractive because of the low fees – only 1-3%.
However, the situation has now changed. UAE banks have started blocking payments if the goods do not actually pass through the emirate. Experts attribute this to increased international pressure and the risk of secondary sanctions.
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Experts estimate that 10 to 20 per cent of all laptops were shipped to Russia through this channel, and for some other types of electronics, the share could reach 30 per cent.
These changes could significantly affect the supply of electronics to Russia and force Russian importers to look for new ways to import goods from China.
As written by , the Russian industry is on the verge of disaster due to China’s refusal to export a key chemical substance.