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Russian collection and payment problem and impact


The geopolitical conflict between Russia and the West has led to severe economic sanctions, which have caused a lot of trouble for Russian companies to receive and pay. Faced with this challenge, enterprises need to quickly adjust their response strategies and find new payment channels and methods.

Affected industry

Industries such as import and export trade, energy, finance and other industries are the most affected, many multinational companies have been forced to suspend or reduce business in Russia.

Current state of the Russian payment system
SWIFT exit
Russia has been kicked out of the SWIFT international bank payment network, severely hampering cross-border payments.
Local payment system
Russia launched the MIR payment system as an alternative, but coverage and international acceptance was low.
Increase in cash payments

Businesses and individuals are forced to make more cash payments, increasing operational costs and risks.

Countermeasures and alternatives
Diversified payment

Try to use alternative channels such as RMB and cryptocurrencies to spread the payment risk. Improve flexibility and resilience.

At present, our company received the payment form Russia is still normally.
If you need any help for the payment in Russia, please feel free to contact with us. thank you

Best Regards

Vikey Fung
MOB:+86 135 3659 6545
E-mail: sales01@viputrans.com
WCA member ID:129936

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