Business · Trade · 7 hrs ago
Up to 70% of Russian import payments use non-bank intermediaries
Russian companies route up to 60-70% of import payments through intermediaries outside the banking system, according to Alexander Murychev, vice president of the Russian Union of Industrialists and Entrepreneurs.
He made the remarks at the Russian Industrialist International Forum in St. Petersburg.
International payment arrangements have changed fundamentally over the past four years, as businesses adapted how they pay for foreign trade.
Murychev said monthly cross-border payments by Russian businesses stabilized at the equivalent of $12-14 billion in 2024 and 2025.
Businesses need lasting settlement solutions, he said, rather than temporary adjustments to changing conditions.
The group’s priorities include payment infrastructure controlled by Russian banks or major trading companies, simpler rules for barter, and more trade insurance.
It also wants greater bank settlement capacity and rules for digital assets, but no specific next steps or timetable were given.
Russian companies route up to 60-70% of import payments through intermediaries outside the banking system, an industry representative said.
Alexander Murychev, vice president of the Russian Union of Industrialists and Entrepreneurs, made the estimate at a forum in St. Petersburg.
He said international settlement arrangements had changed fundamentally over the past four years.
Aggregated industry data showed monthly cross-border payments by Russian businesses stabilized at the equivalent of $12-14 billion in 2024-2025.
Murychev called for Russian-controlled payment infrastructure, expanded barter arrangements and other measures to support foreign trade settlements.
- Who
- Russian companies, according to Alexander Murychev, vice president of the Russian Union of Industrialists and Entrepreneurs.
- What
- Up to 60-70% of import payments are processed through intermediaries outside the banking system.
- When
- Murychev spoke on October 22, 2026.
- Where
- At the Russian Industrialist International Forum in St. Petersburg.
- Why
- Not stated.
This story does not have two clearly opposing sides.
Murychev said the architecture of international settlements had undergone fundamental changes.
Monthly cross-border payments by Russian businesses stabilized at the equivalent of $12-14 billion, according to aggregated industry data.
Complex systems for foreign trade settlements had emerged.
Businesses moved toward widespread adoption of available foreign trade settlement arrangements, Murychev said.
Murychev discussed import payments and settlement priorities at a forum in St. Petersburg.
- Import payments
- Up to 60-70% handled through intermediaries outside the banking system
- Speaker
- Alexander Murychev, RSPP vice president
- Forum location
- St. Petersburg
- Monthly cross-border payments
- Equivalent of $12-14 billion in 2024-2025
- Settlement priorities
- Russian-controlled infrastructure, importer- and exporter-controlled infrastructure, and barter arrangements
What people are saying
We process the bulk of payments - up to 60-70% in the import segment - through payment intermediary arrangements. In other words, outside the banking system.
This shows that the role of intermediaries has increased significantly recently
In 2025-2026, businesses moved toward widespread adoption of all available foreign trade settlement arrangements.
At the RSPP level, we have identified the following priorities. First, creating our own payment infrastructure under the control of a Russian bank.