Challenging Times for Cross-Border Payments for Foreign Business in Russia and Belarus

11.12.2024

Despite the challenging environment many foreign companies still continue their business activities related to supplies of non-sanctioned goods and services to Russia and Belarus as well as supporting their local subsidiaries - entities, branches and representative offices with funds from their headquarters.

Unfortunately, the situation with cross-border payments has been worsening over the last two years and the companies have been facing increasing challenges related to transferring funds to their counterparties either from or to Russia and Belarus.

International banks have been strengthening their rules and restrictions on cross-border payments or fully stopped processing of those transaction so as a consequence many transactions remain unsettled which finally leads to the business interruptions and losses by the companies.

Please join our event tomorrow, on December 12, 2024 at 10:30 (GMT +3), to gain valuable expert insights to navigate year-end financial and banking challenges in Russia effectively.

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How we can help

In view of the current situation with international payments, we can offer for our clients the payment transfer support service with the help of our international network. We can help foreign businesses to process their cross-border payments in both directions i.e. either from or to Russia and Belarus using our professional expertise and specially elaborated solutions for various types of cross-border transactions in compliance with the law of all involved jurisdictions.

SCHNEIDER GROUP is ready to provide you with the comprehensive support and detailed guidance so your business runs smoothly without any interruptions.