Uralsib can no longer process payments of Russian partner banks in dollars, euros due to external restrictions

MOSCOW. June 22 (Interfax) - Uralsib can no longer process payments of Russian partner banks in dollars and rubles due to the policies of foreign lenders, but Uralsib's own payments and those of its clients in these currencies are being carried out as normal.

"Unfortunately, the bank no longer has the ability to process the payments of its local bank partners in dollars and euros in connection with the policies of foreign correspondent banks, which Uralsib informed them of in a letter. Foreign banks are consistently refusing to accept payments of loro account respondents and are striving to process payments only from their direct partners that have gone through compliance procedures," Uralsib told Interfax.

"Transactions to process its own payments and the payments of clients of Uralsib, both individuals and legal entities, in dollars and euros are being carried out as usual," it said.