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Alfa-Bank, Tinkoff and Rosbank are disconnected from SWIFT

26 февраля 2023

The European Union launched the tenth package of anti-Russian sanctions, which affected Alfa-Bank, Tinkoff Bank and Rosbank.

The restrictions include disconnection from the international SWIFT system, freezing of assets in EU countries and a ban on transactions.

The European Commission explained its decision by the fact that these banks are systemically important and participate in sectors of the economy that provide Russia with "substantial income". Separately, it is said about Tinkoff that, together with the government, the bank participates in programs to promote entrepreneurship and supports its clients "in the light of military mobilization."

Operations with the aforementioned banks will need to be completed by August 26, 2023, according to the EU magazine.

In turn, Tinkoff Bank assured that they were ready for such a scenario. Alfa-Bank reported that EU sanctions would not affect the usual work. Rosbank made a similar statement.

New sanctions also banned the import of synthetic rubber and bitumen from Russia. Citizens of the Russian Federation are prohibited from leading organizations that are operators of the community's critical infrastructure.

The transit of dual-use goods through Russia is also completely prohibited (previously, the ban only applied to exports).

More details on the website Banki.ru https://www.banki.ru/news/lenta/?id=10980807

Nadmitov, Ivanov and Partners Law Firm actively advises clients in the field of financial transactions and transactions made during the sanctions period.

Email: info@nplaw.ru
Tel.: +7 (495) 649-87-12

+7 (495) 649-87-12