The reason for the suspension of operations was the sanctions imposed by the European Union in July 2025, under which Heihe Rural was included in the list of restricted organizations. At the same time, according to information from market participants, the bank continued to process payments until almost the end of August, and then abruptly stopped settlements with Russian companies.
Among the possible technical reasons is the need to modernize the regional payment system, through which many rural banks in Heilongjiang operate. It is expected that the suspension may be temporary, but no specific dates have been announced for the restoration of work.
With limited access to the usual payment channels, Russian participants in foreign economic activity are increasingly resorting to alternative methods of international transfers. The main one is the use of payment agents. These can be either specialized companies or agency schemes embedded in the functionality of Russian banks.
The scheme with a payment agent assumes that the settlement with a foreign supplier is carried out not directly, but through a third party. Such an intermediary, as a rule, has a payment infrastructure beyond the sanctions pressure and ensures the safe and legally correct execution of the transaction.
In addition, there is a growing interest in settlements in rubles and national currencies, including the yuan. For many businesses, this allows them to reduce costs and speed up payments. However, such transactions require precise legal and accounting support, as well as an understanding of currency legislation.
Experts note that when choosing a calculation scheme, it is important to take into account not only the reliability of the channel, but also the requirements for documentation, currency control and taxation. This is especially true when working with new counterparties in conditions of complicated logistics and reduced transparency of individual banking transactions.
It is also worth remembering that in the case of using agency schemes, it is necessary to correctly reflect such transactions in accounting: it is important to properly execute the contract, acts and payment orders in order to avoid claims from the tax authorities.
The situation with Heihe Rural is another signal to business about the need for flexibility and thoughtfulness in financial planning for foreign economic activity. In the face of sanctions and constant changes in international rules, the only sustainable strategy remains the diversification of payment channels and regular risk monitoring.
The new landscape of international payments requires companies to constantly adapt. The use of payment agents, the transition to settlements in national currencies, and work with trusted partner banks are all becoming part of a new reality in the field of foreign economic activity.
