In the autumn, Kazakhstan’s banks sharply increased the time it takes to process payments from Russian companies, representatives of transport companies and lawyers told RBK. According to them, Kazakhstani banks began to demand more and more additional documents and data on companies sending and receiving money. As early as the summer of 2023, Russian entrepreneurs reported that Kazakhstani banks refused to accept rouble payments, but at that time cases of refusal were “extremely rare”.
“Now the average time can be anything from a few weeks to two months. The more complex and larger the transaction, the longer it takes to process. The tightening of requirements for Russian entrepreneurs by Kazakh banks is mainly due to international sanctions and the tightening of global anti-money laundering measures”
– notes Andrei Gusev, Managing Partner at Nordic Star Law Offices, in his commentary.
More details on the Forbes website.