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The sanctions have made it difficult to transfer money between family members in Russia and abroad, and separated relatives cannot support each other financially. What options are still possible, Ivan Chumakov, an expert on economic policy and investment, told the correspondent.
According to him, it is worth focusing on Chinese services.
“For money transfers, the payment system UnionPay or similar, which is not subject to sanctions, is suitable. This corridor is still working, although external circumstances are changing too quickly. Moreover, UnionPay is in no hurry to settle in Russia,” said Chumakov.
He added that Chinese partners do not seek the Russian market, since it carries high risks, and “there are no golden eggs here.”
The expert did not rule out that in the future the physical transfer of money through guarantors will become more relevant in the face of sanctions.
“If one of the family members is in Europe, he can apply to a local bank and open a new Visa or MasterCard card for himself or a relative who has arrived. Although note that credit organizations may now refuse to provide services to Russians. If everything worked out, then the card is sent to the Russian Federation, and this is how transfers are made. But it is not yet known how it will be serviced, ”Chumakov summed up.
Read more about how Russian families were separated due to sanctions and what difficulties relatives face, read in the Rosbalt article.
Source: Rosbalt
Tristin is an accomplished author and journalist, known for his in-depth and engaging writing on sports. He currently works as a writer at 247 News Agency, where he has established himself as a respected voice in the sports industry.
