Armenian banks start blocking payments for electronics from Russia – Kommersant

YEREVAN, June 7. /ARKA/.  Armenian, Kazakh and Hong Kong banks started blocking payments from Russia for  servers, chips, processors, telecom equipment and other electronics for legal entities in Russia," Russian daily Kommersant reported, citing its source.

The daily says the move follows the introduction of the tenth package of US sanctions (against Russia), which threaten banks that cooperate with the Russian Federation. The restrictions include any delivery of funds, goods or services to or from a blocked entity.

"As a result, Russian companies are trying to import electronics under other product codes and are looking for alternative payment methods. The tightening of export controls by friendly countries could lead to a shortage of such products in the Russian Federation within six months, experts fear," the newspaper says.

Back in mid-April 2022, Armenian Economy Minister Vahan Kerobyan told RBC that Armenian banks "carefully watch out for sanctions'.

After the outbreak of hostilities in Ukraine, two Armenian electronics dealers, Taco and Milur Electronics, have already been blacklisted by the U.S. -0-

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14:54 06/07/2023