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Account-to-account payments to and from Russia and Belarus

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Follow the latest information on account-to-account payments involving Russia and Belarus…

Composition with the flags of Belarus and Russia on Russian banknotes, as a visual reference to financial-economic connections and money flows.

UPDATE 11 MARCH 2022: SWIFT has announced that a total of 13 Russian banks and three Belarusian banks will be disconnected from SWIFT on 12 March 2022.

UPDATE 2 MARCH 2022: The European Council has announced that seven Russian banks will no longer be accessible through SWIFT from 12 March 2022 . From that date, all other SWIFT participants worldwide will therefore be unable to process payments with these banks through SWIFT for an indefinite period.

Dutch banks naturally comply with all official sanctions. Payments through Dutch banks to or from institutions, companies and individuals in Russia and Belarus that appear on the sanctions list are therefore not possible. Beyond this, banks have made no collective policy arrangements for payment transactions involving Russia or Belarus. Dutch business and retail banking customers are therefore advised not to conduct payment transactions with an institution, company or individual in Russia or Belarus for the time being without first consulting their bank. Always check your bank’s website before contacting your bank directly.

The aim of the announced SWIFT ban and other sanctions is to halt trade with Russia in particular as far as possible, including related payments. Anyone who nevertheless wishes to make a payment from the Netherlands to Russia or Belarus should first seek information from their own bank or another recognised and reliable payment service provider.

Many payments to and from Russia are no longer possible. Payment transactions that remain possible, exclusively with Russian institutions or individuals who are not subject to sanctions, require a tailored approach that may differ by counterparty or currency.

Follow the latest news on sanctions and restrictions affecting financial transactions with Russia and Belarus on DNB’s website.

Also read our latest information on payments using payment cards issued in Russia and Belarus…

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