Chinese bank suspends transactions with Russia – high-ranking diplomats from Moscow react. Russian Deputy Foreign Minister Andrey Rudenko denied that his country is facing problems involving payments between China and Russia.
Kremlin spokesman Dmitry Peskov said Moscow was conducting "a close dialogue with our Chinese friends, and of course we will solve any problems that arise" The Chinese payment system UnionPay, comparable to MasterCard and Visa, also withdrew from Russia. Russia is almost completely cut off from the Western capital market and is dependent on China as a trading partner.