Sobinbank is going to halt all external settlements (funds to be credited and transferred) in foreign currencies (except for the Kazakh tenge), the lending institution said in a press release. The lender said that these measures are designed to shield corporate clients “against unfair actions of foreign financial institutions”. In addition, the lending institution stressed that it will continue ruble operations.

The lending institution also requests its clients not to make currency payments to the accounts opened at the bank so that no funds are blocked.

In addition, Sobinbank emphasized that this initiative will not affect its fulfillment of the obligations to clients and partners.

The media wired earlier in the week that Sobinbank ceased to accept euro deposits.

After the United States imposed sanctions on 20 Russians and Bank Rossiya Visa and MasterCard blocked operations under the cards issued by the lending institution and its 100% subsidiary, Sobinbank. In late March Bank Rossiya said it would operate solely on the domestic market and with the Russian ruble only.