With the increasing international trade friction, the risks of export trade are growing higher. You should take caution if you have foreign trade business with companies from high-risk countries or regions, for likely intercepts of cargo and default risks.
What are High-Risk Countries?
Country Sanctioned by
the United Nations or the United States
Most Chinese banks don’t offer international business services to these countries, including Iran, North Korea, Sudan, Syria, and Cuba.
Entity Sanctioned Unilaterally
by UN or US
Take Russia, which is sanctioned by UN and US, as an example. A series of sanction measures have seriously affected Russia’s industries. There are over 94 Russian banks in the sanctions list.
Non-Sanctioned Country but Suspected
to Offer Financial Services to Sanctioned Entities
Payment from this kind of countries will be suspected as financial services for risky individuals or entities. Therefore, it is highly possible for remittances from countries like Turkey and Pakistan to be checked.
Non-Sanctioned Country
with High Risks
Political instability makes this kind of countries highly potential to be sanctioned. In general, Chinese banks deal with relevant services with caution.
Where Can I Search the List?
-
United Nations Security Council
-
Office of Foreign Assets Control
-
European Union
-
Financial Action Task Force
How to Control Risks?
Here's a summarized list about high-risk countries:
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