In the UAE, banks have increased the time it takes to process payments from Russian businesses.
The payment processing time between Russia and the United Arab Emirates has increased to 14 days.
The situation, as practice shows, has been deteriorating throughout this year, the RBC article emphasizes.
At the beginning of the year, the average payment processing time was 1-3 days, by the beginning of summer the process reached 5-7 days and increased to 14 days by the end of November.
According to experts, the deterioration was particularly noticeable in November after the introduction of large-scale US sanctions against Russian banks.
From January to November this year, the processing time for payments between banks in the two countries increased by 29% compared to the same period in 2023.
At the same time, most participants in foreign economic activity also note a noticeable deterioration in the situation since the end of November.
In some cases, payments are returned in 1-2 weeks. Sometimes funds are written off from UAE bank accounts and do not reach Russian bank accounts.
Making payments directly has become unavailable for many companies, although it was possible last year.
Author: Elena Gutyro
