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This article analyzes the impact of financial sanctions on cross-border electronic commerce using Russia and China as examples. The authors examine both primary and secondary financial sanctions, as well as the problems arising in cross-border electronic commerce due to the exclusion of Russian banks from the SWIFT system. They also discuss alternative payment systems such as SPFS (Bank of Russia's Financial Messaging System) and CIPS (Cross-Border Interbank Payment System), which aim to replace SWIFT. Additionally, the article notes a decrease in the activity of major trading platforms in the Russian market in the context of sanctions against Russia, indicating serious challenges for cross-border electronic commerce that may lead to reduced trade volumes between the countries and complicate business processes.
Tyuleneva et al. (Fri,) studied this question.