Gazprombank ceases transfers in dollars due to decisions by U.S. correspondent banks

MOSCOW. Jan 24 (Interfax) - Gazprombank (GPB) will ceases transfers in dollars due to decisions made by U.S. correspondent banks.

"Due to unilateral decisions by U.S. financial institutions, servicing of Gazprombank's correspondent accounts in U.S. dollars at JPMorgan Chase Bank and Bank of New York Mellon will be terminated," GPB said in a statement.

The bank is asking customers not to use its cross-border transfer services in U.S. dollars starting on January 27.

"This will not affect Gazprombank's operations in any way, with servicing of our customers' accounts and deposits in dollars, as well as cross-border transfers in other currencies to continue," GPB said in a statement on its Telegram channel.

Gazprombank stressed that it is fulfilling all obligations to customers in full in all currencies, with individuals and legal entities having uninterrupted access to their funds and services.