Russian state-controlled “defence bank” PromSvyazBank has announced the launch of a service of cross-border settlements for international trade contracts with any country, Vedomosti and Kommersant dailies report. As followed closely by bne IntelliNews, since the so-called strangulation sanctions introduced by the Office of Foreign Assets Control (OFAC) in December, many Chinese and Turkish banks have cut ties with their Russian counterparts. Nearly one in four Russian exporting companies experience difficulties with foreign settlements and the government is experimenting with settling internat…