18 Mar 2022 11:34

Sberbank suspends money transfers in five currencies due to sanctions

MOSCOW. March 18 (Interfax) - Sberbank has clarified which operations have become unavailable to individuals in connection with the entry into force of sanctions restrictions on currency transactions with correspondent accounts in U.S. banks starting on March 18.

In particular, Sberbank stopped carrying out transfers from individuals to other banks in U.S. dollars, pounds sterling, Danish and Swedish kroner, Canadian dollars, the lender said. Individuals will also not be able to receive transfers in these currencies from other Russian and foreign banks to an account in Sberbank.

Sberbank offices can still send transfers to other banks both in Russia and abroad in rubles, euros, yen, Swiss francs, Norwegian kroner and Singapore dollars. Transfers abroad through Sberbank Online are available only in euros, and in Russia in rubles according to old rules without restrictions.

The lender recommends customers clarify the restrictions on the recipient bank before making a transfer.

The same applies to Ukrainian banks. "On the part of Sberbank there are no restrictions on transfers to Ukrainian banks, but some Ukrainian banks have imposed restrictions on receiving money from Sberbank. The transfer can be made in euros or rubles," the Russian lender said in materials.

On February 24, 2022, the USA imposed correspondent and payable-through account sanctions on Sberbank, they are not blocking.