In todays international trade arena, trade with Russia is becoming increasingly frequent. Forforeign tradecompanies, how to safely and efficiently receive payments from Russian customers is of great importance.

Hunchun Bank
Hunchun Bank has always played an important role in trade settlements with Russia. Although it faced some uncertainties for a while, there is news that it has gradually resumed business dealings with other domestic banks. After all, banks whose main source of income is payments through the SWIFT system are actively expanding their businesses to meet the needs of foreign trade enterprises. However, we cannot ignore the potential risks. In case of being excluded from the system one day, it may bring huge losses to enterprises.
VTB Bank
At present, VTB Bank is also quite common in Russian foreign trade payments. After the remitter pays the express fee, the payment can basically arrive stably and quickly. This provides a relatively reliable way for foreign trade companies to receive payments.

Whether it is VTB Bank or Hunchun Bank, the cross - border RMB received from Russia basically goes through the CIPS Cross - border RMB Payment System. This system has many advantages:

Safe and Reliable
The CIPS system provides a secure payment environment for foreign trade companies, ensuring that trade data and capital flows are not maliciously interfered with from the outside.Compulsory certificationForeign trade companies do not need to worry about being detained without grounds like the Meng Wanzhou incident, because countries such as Europe and the United States cannot obtain relevant data and capital flows of trade with Russia.
Efficient and Convenient
This system can quickly process cross - border RMB payment business, improve the efficiency of capital settlement, shorten the payment collection time, and save time costs for foreign trade enterprises.
Promote the Internationalization of the RMB
Cross - border RMB payments through the CIPS system help promote the use of the RMB in the international market and enhance the international status of the RMB.

Diversify Payment Collection Channels
Foreign trade companies should not rely solely on a single payment collection channel, but should actively explore various payment collection methods to reduce risks. They can cooperate with multiple banks at the same time and choose the most suitable payment collection channel according to the actual situation.
Pay Close Attention to Policy Changes
International trade policies and the financial environment are constantly changing. Foreign trade companies should pay close attention to relevant policy dynamics and adjust their payment collection strategies in a timely manner. Understand the changes in the banking systems of various countries and the impact of international sanctions on trade settlements, and make preparations in advance.
Strengthen Risk Management
Establish a sound risk management system to assess and prevent risks in the payment collection process. When signing contracts, clarify the payment method, time, and liability for breach of contract to protect their own rights and interests.

In conclusion, when foreign trade companies receive payments from Russian customers, they should fully understand the characteristics and risks of various payment collection channels, reasonably choose the payment collection method, and take advantage of the advantages of the CIPS Cross - border RMB Payment System to ensure the safe and efficient settlement of trade funds. At the same time, pay close attention to policy changes and strengthen risk management to provide a solid guarantee for trade with Russia.