Belarusbank suspends retail client transfers in U.S. dollars

MINSK. June 18 (Interfax) - Belarusbank, the largest bank in Belarus has temporarily suspended transfers in U.S. dollars for individuals.

"OJSC ASB Belarusbank is temporarily not carrying out international transfers for individuals in U.S. dollars. There is no information on when such transfers will resume," the lender said in a statement on Friday.

The bank announced earlier that it was not carrying out international bank transfers in U.S. dollars to the UK, Australia, and New Zealand.

The bank also announced the suspension of international transfers in Canadian dollars, Danish krone, hryvnia, pounds sterling, Norwegian krone and Swiss francs.

Belarusbank, which has been in operation since 1995, accounts for more than 40% of the assets of the country's whole banking system. The State Property Committee owns 99.11% of the bank; administrative and territorial entities hold 0.76% of shares and legal entities hold 0.02%.

The European Union has imposed sectoral sanctions against Belarus that, among other things, bar the Belarusian government and state banks from accessing the European financial market. Belarusbank and Belinvestbank are on the sanctions list.

S&P Global Ratings downgraded Belarusbank's long-term foreign currency issuer ratings to "CC" from "CCC" in mid-May following a similar downgrade of the sovereign credit rating, and left them on credit watch with a negative outlook.