UK's largest bank ceases accepting payments from Russia and Belarus

MINSK. Nov 25 (Interfax) - HSBC, the UK's largest bank in terms of assets and market capitalization, has announced that it will no longer accept payments from Russia and Belarus.

HSBC said that it has decided to cease processing payments to/from Russia or Belarus in a statement posted on its website.

HSBC has also said that it may hold for further review any payments that it processes involving Russia or Belarus, and the financial institution may reject and return funds at its sole and absolute discretion.

HSBC advises customers planning to remit or receive payments to/from Russia or Belarus to seek other options.