Citadele Bank

About Banking Service Availability for Customers Who Work With Partners in Belarus

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If you have business partners in Belarus, or you operate in the Belarussian market, we would like to inform you of the impact of sanctions set by the European Union (hereafter: EU) and the United States of America (hereafter: U.S.) on our Bank’s services.

We would like to draw your attention to the fact that, in accordance with normative acts, EU sanctions are binding for all private individuals and legal persons in the EU, including those who operate in third countries such as Belarus. Not adhering to EU sanctions may result in legal liability as set out in law, including criminal liability. Please also bear in mind that the Bank complies with U.S. sanctions in its operations and in accordance with legislation.

With this in mind, please familiarise yourself with the sanctions against Belarus and persons associated therewith:

Please, therefore, check whether your business partners include persons subject to sanctions or persons connected with these persons, and find out whether your business operations are impacted by sectoral limitations. It is crucial to know this, as the Bank is unable to complete transactions that may fall under sanctions in accordance with legislative requirements.

If your business operations are linked with Belarus or any other country under sanctions, the Bank may ask you to submit additional information on specific payments or your operations as a whole. The Bank may contact you to ask for information on your business partners in Belarus, their owners and beneficial owners, as well as the goods you produce and services you provide, and the final recipient of these goods.

Payments linked with Belarus may be subject to more thorough checks. Therefore, please enter as much information as possible for these payments, adding specific products and services and final recipients, rather than just, for example, an invoice number. This helps us process your payments faster.

We recognise that working with Belarus is currently complicated, as both customers and financial institutions must ensure that sanctions are not being breached, and that parties are adhering to the Criminal Law. However, we are certain that, by working together and adhering to legislative requirements, we can find effective solutions to reduce risks and for successful business operations.

If you have any questions, please contact your manager, who will be happy to give you a consultation.

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