RBC reports an increase in the time frame for making payments from the UAE to Russia to 14 days / Comment / Forbes

The execution of payments from the UAE to Russia has increased by 29% in the 11 months of this year compared to last year and now takes an average of 14 days, transport companies and specialised lawyers told RBK. According to them, in some cases payment terms can reach 30 days. The situation worsened significantly after the US imposed sanctions on 50 Russian banks involved in international payments in November. Gazprombank, BCS Bank and Dom.RF Bank were also subject to restrictions.

Transferring payments from the UAE to Russia has increased to an average of two weeks, RBK reported, citing transport companies and specialised lawyers.

Andrei Gusev, Managing partner at Nordic Star Law Offices assessed the situation in a Forbes article.