International Payments in the New Realia: FBA EAC Discusses Trade Mechanisms between Russia, Brazil, and Asia
On April 27, 2026, a business meeting was convened at the headquarters of Financial and Business Association of Euro-Asian Cooperation to address the organization of international payments amidst sanctions restrictions. The primary focus of the discussion centered on the development of robust financial frameworks to facilitate trade operations between Russia and Brazil, with the involvement of Asian financial centers.
The meeting was attended by Sergey Korotkov, Advisor to the FBA EAC President; Eduardo Carvalho, Founder of the Brazilian company Wonder Oil; Alexey Kazartsev, Chairman of the FBA EAC International Banking Committee and Head of the FBA EAC Representative Office in the Republic of Belarus, as well as Co-founder of the New Financial Alliance BRICS PAY LLC; and Andrey Mikhailov, CEO of RTD LLC.
During the deliberations, it was acknowledged that traditional payment channels facilitated by major Russian banks, such as Sberbank, VTB, and Alfa-Bank, are subject to heightened risks of fund freezing in the context of cross-border transactions. Consequently, preference was given to "white" payment schemes conducted through non-sanctioned financial institutions utilizing correspondent accounts in China and settling in national currencies such as the yuan or the Indian rupee. This model enables payments from Brazil to Russia, followed by conversion into rubles for settlements with Russian suppliers, including entities like Transneft.
Particular emphasis was placed on the phased implementation of the proposed financial mechanisms. It was suggested to initiate a pilot transaction ranging from $50.000 to $100.000 to evaluate the documentation process and regulatory interactions. In the event of a successful pilot, the scale of operations could be expanded to facilitate transactions between $20.000.000 and $66.000.000, primarily for the supply of energy resources, including diesel fuel. The participants underscored the necessity of transparency in the proposed schemes and the provision of advance information to regulatory authorities to mitigate the risk of account freezes.
The discussion further extended to logistical and customer service aspects. Eduardo Carvalho, representing the Brazilian side, outlined a classification system for potential customers based on solvency and logistics capacity. The prioritized model of cooperation involves advanced payment by the buyer, thereby minimizing financial risks for the supplier.
The organizational agenda of the meeting included planning for subsequent rounds of negotiations with representatives from the banking sector. The participants expressed confidence in the necessity of establishing direct partnerships between Russian and Brazilian companies, underpinned by reliable financial institutions capable of ensuring the stability of settlements within the current geopolitical landscape.