On Tuesday afternoon, 1 March, the EU decided to instruct the SWIFT international payment system to remove a number of Russian banks from the system. These banks include VEB RF, VTB, Bank Rossiya and Bank Otkritie. From Saturday 12 March, no further payments were possible to and from these banks, in any currency. Thus far, two major Russian banks, Sberbank and Gazprombank, have not been excluded.

On Thursday 10 March, the EU also decided to remove a number of Belarusian banks from the SWIFT system, including Belagroprombank, Bank Dabrabyt and the Development Bank of the Republic of Belarus. From Sunday 20 March, no further payments will be possible to and from these banks in any currency.
As from 14 June, the list has been extended to 3 Russian banks and one Belarusian bank, namely: Sberbank, Credit Bank of Moscow, Russian Agricultural Bank, Belarusian Bank For Development And Reconstruction

Belfius is, of course, monitoring the sanctions, as well as closely screening all financial transactions with these countries and regions. Transactions that contravene the sanctions in place will not be carried out.

NB: the current situation may change, which will cause longer waiting times than usual.

Remember:

• the current situation may change at any time when new sanctions are implemented
• transactions (payments or receipts) in Russian Roubles (RUB) and Belarusian Roubles (BYN) are current no longer possible.

Russian Roubles (RUB) and Belarusian Roubles (BYN) are no longer allowed as a result of the conflict in Ukraine.

Mastercard and Visa have ceased doing business in Russia. This means Belfius cards will no longer work in Russia, either in stores or at ATMs.

Payment cards issued in Russia will no longer be supported by the Mastercard/Visa network, regardless of whether they are used in their own country or internationally. In other words, all domestic transactions with cards issued in Russia must be processed outside their network.

These payment cards also no longer work in Belgian stores or at Belgian ATMs.

No, transactions in Russian Roubles (RUB) and Belarusian Roubles (BYN) are no longer possible.

VTB, VEB, Bank Rossiva, Sovcombank, Bank Otkritie, Novikombank and Promsvyazbank were excluded from 12 March 2022. This means that all payments to and from these banks, regardless of the currency, have no longer been possible since then.

From 20 March, a number of Belarusian banks will be added to the list. These are Belagroprombank, Bank Dabrabyt and the Development Bank of the Republic of Belarus.

As from 14 June, the list has been extended to 3 Russian banks and one Belarusian bank, namely: Sberbank, Credit Bank of Moscow, Russian Agricultural Bank, Belarusian Bank For Development And Reconstruction.

The additional controls that banks are required to carry out mean that processing times have increased.

At the present moment, no RUB and BYN FX spot, forward or swap transactions are possible via Belfius Bank.

You will find more information on the FPS Finance website.

Transactions to and from, among others, Russia, Belarus and Ukraine are being screened in relation to the sanctions imposed. If a breach of these sanctions is detected, the transaction will be refused or the funds frozen.

Any international trade transaction (including documentary credits and collections, discounts, international guarantees) relating directly or indirectly to one of these countries will be verified in advance by Belfius Bank. Transactions that are in breach of these sanctions will be refused. Also remember that FOREX transactions (spot, forward, etc.) in Russian Roubles (RUB) and Belarusian Roubles (BYN) are now forbidden.

Yes, on condition that Belfius is of the opinion that no breach of the sanction legislation valid at the time has taken place.

We thoroughly screen any documentary credit and documentary collection involving a Russian, Belarusian or Ukrainian party (payee, payee’s bank, port, ship, etc.).

If it appears that one or more of the parties involved is/are on an EU, US, UN or UK sanction list, the transaction will be refused.

If no sanctioned parties are involved and Belfius is of the opinion that there is no risk of an embargo being contravened, then the transaction can proceed, in principle. In principle, because certain other circumstances may result in Belfius deciding to refuse the transaction, such as in the event of any future sanctions that may be expected or announced.

Protecting our customers is and remains our highest priority. This means we can guarantee the security of your banking details.