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Russian Banks Are Blocked by PayPal?

Russian Banks Are Blocked by PayPal? HACOS瀚客企服
2022-03-23
2
导读:1PayPal announced to completely suspend services in Ru



1
PayPal announced to completely suspend services in Russia.
On March 12, PayPal announced on its Russian official website that due to the recent changes of the situation, it has decided to suspend related services in Russia. To avoid losses from service interruptions, Russian users are advised to clean up balances in their personal digital wallets by March 18.

Earlier on February 26, the United States, the European Unionthe United Kingdom and Canada issued a joint statement announcing that Russia was prohibited from using the Society for Worldwide Interbank Financial Telecommunication (SWIFT) international settlement system. This prohibition would take effect on March 12 local time.




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PayPal will block those Russian bank accounts.
According to the EU communiqué on March 2, the seven Russian banks that were kicked out of the SWIFT system are:




3
Reminder for those need to receive payment from Russia

At first, ask your client to contact his payment bank to check whether it is on the sanction list (in addition to the above list of the EU, please also check the OFAC list of the United States). 

If not on the list, then ask whether it supports RMB payment. Meanwhile, please contact your bank to see if it can accept payments in RMB from Russia.



HACOS provides free consulting services for exit and entry and Chinese visa. 


If you want to know more about coming to China or doing business here, please contact us! 



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