OREANDA-NEWS Currently, there are problems in settlements between Russian and Mongolian banks. Alexander Knobel, head of the International Laboratory for Foreign Trade Research at the RANEPA (Presidential Academy), said about the occurrence of such difficulties due to the risk of secondary sanctions from Western countries. His words are quoted by TASS.

Mongolian financial organizations are afraid to service payments due to pressure from the authorities of Western countries. According to the analyst, such problems need to be solved at the bilateral level. Difficulties in making calculations hinder the growth of trade turnover between Russia and Mongolia.

Another problem in trade and economic relations between the two countries is the high level of congestion on the railways in the eastern direction. In addition, it has recently become more expensive to transport products in this way due to an increase in transport tariffs, Knobel concluded.

Earlier, the head of the Russian Union of Motor Insurers (RSA), Yevgeny Ufimtsev, reported difficulties in making settlements with banks and companies from Turkey, the United Arab Emirates (UAE) and China.

Processing payments for the supply of auto parts, as the expert clarified, began to take much longer due to careful checks of transactions conducted with Russian counterparties by local financial organizations. The latter, according to him, began to fear servicing payments from the Russian Federation due to the risk of falling under secondary sanctions from Western countries.