REUTERS
Executive Director of the Russia-ASEAN Business Council Victor Tarusin told the Russian magazine Kommersant-Vlast that Chinese banks had not only denied loans to Russian companies and individuals, but also made them close accounts and transfer funds to other financial institutions.
Chinese banks are integrated into the global economy's system and they appreciate their relations with U.S.-based banks, so de facto they have joined the financial sanctions against Russia, Tarusin told Kommersant-Vlast.
Experts interviewed by the magazine outlined two major problems with regard to joint business activity between Russia and China, which included the lack of understanding of the Chinese mentality and China's ambition to control businesses.
"Nowadays Chinese partners are seeking control in many companies, which has not been the case before," CEO of En+ Group Maxim Sokov said when describing one of the company's transactions.
"They say – we're ready to invest, but we need 50% plus one vote," he said.
Many deals failed in 2015 for this reason, he added.