ALEXANDER LINNIKOV ABOUT THE PROBLEMS WITH SETTLEMENTS BETWEEN RUSSIA, CHINA, THE UAE AND KAZAKHSTAN

12/04/2024, on the air of the RBC channel’s “DAY” program, the founder of L&P spoke about the reasons for difficulties in settlements with countries such as China, the UAE and Kazakhstan.

 

“The aggravation of the problem occurs when ordinary people — users of payment cards – begin to pay attention to it. Otherwise, payment delays and payment refusals have already become routine. As the National Payment Council, we respond to requests from our members — banks and payment systems, and my law practice today consists of 60 percent of “sanctions” cases, a significant part of which is precisely solving issues with the compliance services of foreign financial organizations. Our task is to convince foreign banks that a particular payer is not under sanctions, and that the transaction for which the payment is being made has no connection with the sanctioned persons. Of course, there is responsibility both for non-compliance with sanctions and for circumventing them. It should be noted that a number of EU member states provide for even more severe liability for evading or circumventing sanctions, but today we are discussing the issue of settlements with friendly states. The concern of recent days is dictated by the fact that there are more and more delays and problems with settlements with countries such as China, the UAE, and Kazakhstan. This now applies to ordinary citizens in terms of the refusal of banks in friendly countries to service MIR cards, and the problem that has existed for a long time continues to worsen — this is a problem of settlements for business. From the point of view of the stability of the state’s economy, the economic security of business is a much more serious problem than the refusal to service MIR cards,” says Alexander Linnikov.