Restrictions on payments related to sanctions against Belarus
On 21 and 24 June 2021, the European Union imposed new sanctions on Belarus, which, in addition to restrictions on specific legal and natural persons, prohibit transactions in certain areas of activity.
In connection with transactions to or from Belarus (including cross-border payments), customers must make sure that the transaction is not included in the listed category of transactions that violate international sanctions.
The following transactions are prohibited in the direction of Belarus:
- Sale, delivery, supply, and export of technology and software for Internet and mobile and telephone network tracking and tracing devices. The provision of services and technical assistance related to the aforementioned equipment, technology, and software is also prohibited.
- Direct or indirect sale, delivery, transfer, and export of dual-use items or technology for military use in Belarus.
- Direct or indirect sale, delivery, transfer, and export of goods used in the manufacture and production of tobacco products.
- Purchase, delivery, or import of petroleum products.
- Purchase, delivery, or import of products containing potassium chloride.
- The provision of securities transactions, investment services, and loans to the Government of Belarus, as well as public institutions, companies, agencies, and significant credit institutions owned by the government in Belarus is prohibited.
- Providing insurance and reinsurance services to the Government of Belarus, its public bodies, companies, agencies, or persons acting on their behalf or at their direction is prohibited.
- All payments and disbursements from the European Investment Bank to the Belarusian authorities are prohibited.
Due to the sanctions, transactions with Belarus may be subject to additional controls and be delayed as a result.
For more information on all restrictions related to cross-border payments, please visit our website, call customer support at 665 5100, or contact your client executive.