Vietnamese banks have tightened the terms of settlements for Russian businesses: now they make payments subject to the delivery of goods to the country or if there is a Vietnamese citizen among the founders of the company.
Banks are more willing to make payments if the “Russia-Vietnam” link is transparent: there is a counterparty in Vietnam, a clear subject of the contract and relevant documents, agrees Andrei Gusev Senior Partner at Nordic Star.
“In our practice, there have been cases of protracted inspections and additional requests for documents
(contract, invoice, shipping/customs papers, explanations on the payment route), but not requirements to change the composition of the founders,” Andrei Gusev shared in his commentary for RBC.
The full version of the commentary is available on RBC by subscription.