Banks in Armenia and Kazakhstan Block Payments from Russian Legal Entities in the Electronics Market

In the electronics market, there have been increasing reports over the past two weeks of banks in Armenia, Kazakhstan, and Hong Kong blocking payments from Russian legal entities for goods classified under the External Economic Activity Commodity Nomenclature (ТН ВЭД) code 8542, which includes processors, microcircuits, and more. This has been reported by Kommersant, citing sources in the electronics market.

This action is attributed to the establishment of the tenth package of U.S. sanctions, which poses risks to banks cooperating with the Russian Federation, clarified one of the interlocutors for Kommersant. The restrictions pertain to any provision of funds, goods, or services for the benefit of blocked individuals or such individuals themselves.

As noted by the website, as a result, Russian companies will be forced to import components necessary for the production of computers, servers, data storage systems, and other equipment under