Largest Chinese banks cease cash withdrawals from Russia’s Gazprombank cards

On Sunday, November 24, the largest Chinese banks ceased cash withdrawals from UnionPay cards issued by Russia's Gazprombank.

According to Ukrinform, this was reported via the Astra Telegram channel.

The Russian state news agency TASS stated that cash withdrawals from Gazprombank cards are now impossible at Chinese banks, including Bank of China, China Construction Bank, Industrial and Commercial Bank, and Agricultural Bank of China.

This development follows sanctions imposed by the United States earlier this week against Russia's financial sector.

As previously reported by Ukrinform, on November 21, the U.S. Department of the Treasury imposed sanctions on more than 50 Russian banks, over 40 securities registrars, and 15 financial officials. Gazprombank was among those sanctioned.

On November 23, banks in Turkey, the UAE, Thailand, and Hungary also stopped servicing UnionPay cards issued by Russia's Gazprombank.

Earlier in February, ATMs in Austria stopped dispensing cash to holders of UnionPay cards issued by Gazprombank.