FAQ about new sanctions

1. What is the significance of disconnecting some banks from the SWIFT system, and which banks will be affected?

Following the imposition of sanctions and other restrictive measures, the following banks are disconnected from the SWIFT system:

Russian banks

SWIFT CODE    NAME OF THE BANK

VTBRRUMM    JSC VTB BANK

VTCARUMM    JSC VTB CAPITAL

MOSWRUM2    BM-BANK JOINT-STOCK COMPANY

POSBRUMM    POST BANK JOINT STOCK COMPANY

CNOVRUMM    NOVIKOMBANK JSC

PRMSRUMM    PROMSVYAZBANK PJSC

JSNMRUMM    BANK OTKRITIE FINANCIAL CORPORATION (PUBLIC JOINT-STC COMPANY)

OBJSRUMM    OTKRITIE BROKER JOINT STOCK COMPANY

RUIDRUMM    ROSGOSSTRAKH BANK

ROSYRU2P    THE ROSSIYA BANK

SOMRRUMM    SOVCOMBANK

DALVRU8X    ORIENT EXPRESS BANK

BFEARUMM    VEB BANK (VNESHECONOMBANK)

EXIRRUMM    EXIMBANK OF RUSSIA JSC

VTBRRUM2    JSC VTB BANK

RUDLRUMM    BANK OTKRITIE FINANCIAL CORPORATION (PUBLIC JOINT-STC COMPANY)

Belarus banks

SWIFT CODE    NAME OF THE BANK

BAPBBY2X                            BELAGROPROMBANK JSC

MMBNBY22                        BANK DABRABYT JSC

BRRBBY2X                           JOINT-STOCK COMPANY "DEVELOPMENT BANK OF REPUIBLIC OF BELARUS"

Disconnection of these banks from the SWIFT system will mean that clients will not be able to send or receive funds in any currency at those banks.

Due to constantly updated sanctions and other restrictive measures, clients should evaluate all the risks associated with funds transfer operations to and from Russia and Belarus.

2. What do you need to know when making payment transfers to Ukraine, Belarus and Russian Federation?

In order to make a payment transfer, it is necessary to provide the recipient’s address, i.e. country, city and street. Without providing recipient’s address, payments will not be processed.
Due to sanctions against certain banks (see the list below), payment may not be processed. Therefore, before making a payment you should check if a specific bank is not sanctioned.
Payment transfers may take time (due to the evaluation process of transaction parties, sectorial sanctions, etc.). Therefore, you should be ready to provide the bank with transaction-related information and documents.
We would like to remind you that from 24 February, all payments to Ukraine in any currency are free of charge.

3. From which/to which banks does Swedbank not accept and not allow payments in any currency from/to Russian Federation, Belarus and Ukraine?

The list of sanctioned banks from/to which Swedbank does not accept/allow payments:

Russian Federation banks:

SBERBANK OF RUSSIA
IS Bank, AO
Russian National Commercial Bank
Bank National Factoring Company Joint Stock Company
Bank Otkritie Financial Corporation Public Joint Stock Company
Bank Rossiya
BM Bank Public Joint Stock Company
Commercial Bank Agrosoyuz
Evrofinance Mosnarbank
Eximbank of Russia
Inresbank OOO
Investcapitalbank
Joint Stock Commercial Bank Rublev
Joint Stock Company Black Sea Bank of Development and Reconstruction
Joint Stock Company Genbank
Joint Stock Company Sevastopolsky Morskoy Bank
Joint-Stock Commercial Bank Novikombank
Joint-Stock Company Commercial Bank North Credit
JSB Sobinbank
Limited Liability Company Ozon Bank
MB Bank
Open Joint Stock Company Commercial Bank Verkhnevolzhsky
Open Joint Stock Company Krasnodar Regional Investment Bank
Orient Express Bank Public Joint Stock Company
PAO Mosoblbank
Promsvyazbank Public Joint Stock Company
Rosgosstrakh Bank Public Joint Stock Company
Russian Financial Alliance Bank
Russian Financial Corporation
Sarovbusinessbank Joint Stock Company
SMP Bank
Sovcombank Public Joint Stock Company
Taatta, AO
Tempbank
TSMRBank, OOO
Vnesheconombank
VTB Bank OAO
VVB, PAO
West-Siberian Commercial Bank Public Joint Stock Company
Innovation Center for Banking Technologies Limited Liability Company
Joint Stock Company Sovcombank Life
PSB Avtofaktoring Limited Liability Company
PSB-Forex Limited Liability Company
Sovcombank Asset Management Limited Liability Company
Sovcombank Factoring Limited Liability Company
Sovcombank Insurance Joint Stock Company
Sovcombank Leasing Limited Liability Company
Sovcombank Technologies Limited Liability Company
VEB Capital (a. k. a. Vnesheconombank)

Belarus banks

BPS-Sberbank OAO
Bank Dabrabyt Joint Stock Company
Belarusian Bank for Development and Reconstruction Belinvestbank Open Joint Stock Company
Bank Belveb OJSC

Ukrainian banks

Prominvestbank

Please note that restrictions also apply to those banks in which the above-mentioned sanctioned banks hold 50% or a larger part of shares (those banks may be founded and may operate in different countries than Russian Federation) or are controlled by a sanctioned bank in other ways.

Additional information: Due to the ongoing military action in Ukraine, new sanctions are being imposed on Russian entities. Due to the extremely high risk of sanctions, Swedbank has decided not to execute customer payment orders and not to accept incoming payments in any currency from 14 April 2022 in cases where bank of the payer and/or the payee bank and/or the participating correspondent bank is listed as one of the following banks:
JSC ALFA BANK (BIC – ALFARUMM, Russia)
JSC SB ALFA BANK (BIC – ALFAKZKA, Kazakhstan)
ALFA BANK PJSC (BIC – ALFAUAUK, Ukraine)
CJSC ALFA BANK (BIC – ALFABY2X, Belarus)
ALFA CAPITAL HOLDINGS (CYPRUS) LIMITED, LONDON BRANCH  (BIC – ALSCGB21, UK), AMSTERDAM TRADE BANK N.V. (BIC – ATBANL2A, Netherlands).

IMPORTANT: We would like to remind you that due to the current situation sanction regulations and restrictions may constantly change.

4. Which correspondent bank should one choose for payments to Russian Federation and Belarus?

In order to place a payment order to Russian Federation or Belarus, you need to indicate a correspondent bank which is not sanctioned and/or not affected by any other restrictive measures (the list of sanctioned banks is provided in the answer to the 3rd question). If the beneficiary’s bank does not have such a correspondent bank, payment will not be issued even if the beneficiary’s bank is not sanctioned and/or affected by any other restrictive measures. Please note that even if the beneficiary’s bank and beneficiary’s correspondent bank indicated in the payment order are not sanctioned, payment may be rejected due to internal beneficiary’s correspondent bank’s policy.

IMPORTANT: We would like to remind you that due to the current situation sanction regulations and restrictions may constantly change.