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2025-04-25 International-UN-NGOs
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Russia and China create secret banking system to bypass Western Sanctions
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Good to know. [KhaamaPress] Russia and China have developed a secret banking system to bypass Western sanctions, facilitating trade between the two nations.
Russian banks have launched a new payment system called “China Route” to conceal trade exchanges between Moscow and Beijing from Western regulators. According to Reuters, this system, designed to reduce the risk of sanctions and high costs, facilitates transactions through a network of intermediary countries that Moscow considers “friendly.”
The China Route system operates independently of SWIFT and Western banks. Payments are processed and settled through a central bank, where debts and receivables are netted. This system ensures that transactions are completed securely without relying on international banking infrastructures typically scrutinized by Western authorities.
To guarantee payments, banks involved in the China Route have created specific financial tools. As of now, there have been no reports of transaction reversals or blocked payments, suggesting that the system is functioning smoothly and efficiently.
The trade volume between Russia and China reached a record high of $245 billion last year. However, due to Chinese banks’ cautious approach in avoiding U.S. sanctions, the cost of transactions increased by up to 12%. Despite this, the China Route offers a more cost-effective alternative with reduced fees for both imports and exports.
Currently, the China Route charges about one percent for imports and half a percent for exports, with funds transferred within two days. These developments come as Chinese President Xi Jinping is scheduled to visit Moscow in May to attend Russia’s Victory Day celebrations, further strengthening bilateral ties.
The introduction of the China Route payment system marks a significant shift in the economic relationship between Russia and China. It provides a more secure and efficient method for financial transactions, circumventing Western sanctions. With growing trade volumes between the two nations, this system is likely to play a crucial role in facilitating future exchanges.
Moreover, the system’s success may encourage other countries to explore similar alternatives to avoid the impact of Western financial restrictions. 
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Posted by trailing wife 2025-04-25 00:00||
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