RE: China visit - day 217 May 2024 13:14
“ Hi iKN what you say is correct in a simplistic world. The fact is is that every UK/western bank will have put EUA on a blacklist for monies received, as minerals etc are under sancrions. If they suddenly receive a payment for x millions of pounds it will not be allowed to go through. It's not about China buying it , it's about anyone buying it.
Would could happen is the national banks of Kazakhstan could act as mediator and sell through them, then all eua holders could fly to Astana and pick up their riches in Tenge, but via a uk bank it just csnt happen im afraid , too many checks in place“
It’s not a fact that EUA have been blacklisted by all UK banks at all !!
It’s also quite obvious that subsidiaries not within Russia or the UK can very much take monies and therefore push money back through to the UK.
Also noted the UK Gov would like to see UK companies exit Russia, so they would only allow this with no monies ? Very doubtful on a good day.