Kazakhstani banks have started to block payments for servers, microchips, processors, telecommunication equipment and other electronics from Russian entities.
As a result, Russian suppliers are looking for alternative payment methods. They are also trying to hide sensitive components under unmatched commodity codes. It is expected that the new practice will cause a deficit of electronics in Russia within half a year.
As Kommersant reported, Kazakhstani banks are probably worrying about a new package of U.S. sanctions that may be targeted at banks cooperating with Russia. These new restrictions can be effectively applied against providing money, goods and services to any sanctioned individual or from such a person. Another source of the outlet edition said that all payments from Russia have been checked «by hand.»
In order to bypass this barrier, Russian companies will probably try to use alternative commodity codes to import components they need to produce computers, servers, data storage systems and other devices. Commodity codes are a necessary element for the cross-border movement of goods within the Eurasian Economic Union.
In addition to Kazakhstani banks, financial institutions from Armenia and Hong Kong are also applying this practice.
