Information about International Sanctions

In daily cooperation with the Customers, in transactions execution on accounts of its Customers, the Bank strictly adheres to national and international sanctions, including the sanctions imposed by the European Union, the United Nations and the Office of Foreign Assets Control of the US Department of the Treasury. The Bank is obliged to implement the requirements of normative acts on compliance with the sanctions, which results in in-depth payments screening, therefore the Bank may request additional information and/or documents in respect of incoming and outgoing payments.

Sanctions – restrictive measures established by international public law in respect of certain countries, specific subjects of sanctions (terrorists; persons accused of military and political crimes; extremist organisations, etc.) or in respect of a certain activity, which are approved by international organisations and/or countries.

There are the following types of sanctions:

  • financial restrictions;
  • civil restrictions;
  • tourism restrictions;
  • restrictions on strategic goods and turnover of certain goods;
  • embargo on weaponry and goods related to weaponry.

The Bank strongly encourages to obtain and check information on cooperation partners and their spheres of activity prior to commencement of cooperation, as well as to update the obtained information in the course of cooperation, paying special attention to transactions that involve persons from the regions and jurisdictions subject to sanctions.

A list of sanction programs and countries is available at: 

In English

List of US sanctions programs and description thereof by countries/regions

Sanctions list of US OFAC SDN

Sanctions list of US OFAC SSI (sectoral sanctions)

Common military list of the European Union

EU list of dual-use goods (COUNCIL REGULATION (EC) No 428/2009)

EU regulatory enactments in the field of sanctions

In Russian

Consolidated United Nations Security Council Sanctions List

In Latvian

Law on international and national sanctions of the Republic of Latvia

Information on the home page of the Ministry of Foreign Affairs of the Republic of Latvia

 

The Bank’s List of Non-Cooperating or Limited Cooperation Countries

Please note that given the high risk of money laundering and terrorism financing, the Bank reserves the right to refuse to execute transactions related to the following countries:

  • Afghanistan
  • Bahamas
  • Botswana
  • Cambodia
  • Cuba
  • Ethiopia
  • Ghana
  • Iran
  • Iraq
  • Libya
  • Nigeria
  • North Korea
  • Pakistan
  • Serbia
  • Somali
  • South Sudan
  • Sri Lanka
  • Sudan
  • Syria
  • The Democratic Republic of the Congo
  • Trinidad and Tobago
  • Tunisia
  • Venezuela
  • Yemen
  • Zimbabwe

 

The Bank urges to use caution when choosing counterparties and executing transactions related to the mentioned countries.

 

 

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