Financial service

“OKOMA Logistics” company offers to Russian importers the opportunity to make payments to suppliers in US dollars, euros, yuan, Turkish liras, UAE dirhams, including to the European countries, as well as to the USA and Canada. Considering the presence of “OKOMA Logistics” in different regions, its separate divisions can act as a financial intermediary in relations with foreign counterparties.

Today, conducting the foreign trade activities is complicated by the fact that many large Russian banks got under sanctions and were disconnected from the international financial message transmission system – SWIFT, which makes it impossible to carry out international payments via them. But even those banks that are not subject to sanctions also face difficulties, since not all foreign financial institutions are ready to serve Russian companies, for they fear the retaliatory sanctions from the United States. Moreover, not all Russian banks, that are not subject to sanctions, have the opportunity within the frames of their license to carry out correspondent relations with foreign banks.
In addition, you should at once take into account that the timing of payments has increased, and, for instance, a payment to Europe can take 7-12 days.
That is before making a cross-border payment, you need to take into account and consider the following:

  • Counterparty country
  • Recipient’s bank
  • Correspondent bank
  • Payment currency

Each of these points may cause a refusal of payment or even the “freezing” of part of the current assets in an American and/or European account. Therefore, today preparation for mutual payment settlements is rather a complicated process for Russian counterparties.