systems Visa and MasterCard have stopped servicing the transactions
of six Russian banks included on the sanctions list of the USA.
This was announced on Thursday, December 24th, according to
"Vedomosti" with reference to several bankers.
to the newspaper, "GenBank", "Krayinvestbank"
Bank "Tver", "Sevastopol Marine Bank" (PSC) who
work in Crimea, as well as "Interbank" and "Mosoblbank"
have been disconnected from the service. Also on the sanctions list
are SMP Bank and its shareholders — the Rotenberg brothers.
representatives of these banks noted that the sanctions will not
affect their work, including in the territory of Crimea. But
already on December 23rd, the card operations of these banks became
publication reported that MasterCard transactions of "GenBank"
and "Tver" can be carried out according to the rules of
the National system of payment cards. Visa said that the sanctions
do not affect transactions, but did not answer the question about
the maintenance of the banks from the black list.
Tuesday, December 22nd, the US imposed new economic sanctions
the restrictions were such Russian banks as "Interbank",
"GenBank", "Sevastopol Marine Bank", "Tver",
"Krayinvestbank" and "Mosoblbank". Also under
the sanctions were the two sister banks Sberbank and "VTB 24".
In addition, the U.S. imposed sanctions against the company
since September 2014, the sanctions on Sberbank at the same time
apply to the Sberbank parent companies, who have a share of the
company's direct and indirect ownership at 50 percent or more. The
inclusion of the parent companies belonging to the group of
"Sberbank" in the sanctions list does not change the
scope and legal force applicable to "Sberbank"
sanctions", — said the press service of "Sberbank".
Central Bank Tightens Rules On Currency Exchange
next week in Russia, should one wish to exchange currencies, they
will be greeted by a new way to prove ones identity. From December
27th, new rules will come into force for the identification
of banks' clients, whereby the desire to buy or sell a few dollars
is not considered sufficient grounds to be served using the
simplified identification procedures in which the client simply has
to show the cashier their passport. From now on, customers will
have to fill in a questionnaire and, in general, follow a strictly
prescribed procedure of law, according to the website Bankir.ru.
explained by a senior member of banking and finance practice of
international law firm Noerr Cyril Lelchitsy, under the new rules
the client's identification for the exchange will have to follow
the general rules under the law on combating the financing of
terrorism. This means that it should include, for example, a
customer risk assessment, customer profiling, updating client
information and conducting other activities within the documented
499-N, published in "the Bulletin of the Bank of Russia"
on December 16, notes that when verifying the identifying of the
customer, the Bank checks the information systems of the
public authorities and Pension Fund of the Russian Federation, the
register of individual entrepreneurs databases and lost or invalid
passports, as well as checking the information about the possible
involvement of the client to extremism and terrorism.
press-release on the website of Central Bank Bankir.ru explained
that the new rules were adopted in accordance with the requirements
of the Federal law "On countering the legalization
(laundering) of incomes received in a criminal manner, and the
financing of terrorism".
to experts interviewed after Bankir.ru's application of the new
rules, clients will have to spend more time on exchanges, so each
transaction will take much longer. The burden on employees of
credit institutions will rise, so banks will begin to close the
points of exchanging cash currency, advising customers to
carry out foreign exchange transactions through Internet banks and
other non-cash channels.