April 1, 2023

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The European Union asks Russian banks banned by SWIFT to use … fax for transactions – the informative response of the Russians

European absurdity…as they want ahEnforcement of penalties And the Russians Client

colavus them Brussels but also Frankfurt The Russian response to transactions between Russian banks banned from the SWIFT trading system and European banks.
its location European Commission that Russian banks A SWIFT connection can be disconnected using fax or email to making transactions with European banks does not make sense, As European banks dcan not operate in this system, Two different sources from the banking sector of the Russian Federation told TASS on Sunday, March 5, 2023.

High level of risk

European Union sanctions policyEuropean Union has drCreate such a high level of risk For the banking sector in cooperation with Russian customers oftenThey say to break contracts with organizations that are just partners of banks and other sanctioned structures or when at least one of the beneficiaries is blacklisted.
In the current situation, the Relations with a bank facing EU sanctions of any level are, in fact, impossible for European financial institutions, regardless of the potential losses arising from them.An expert confirmed.
Another expert described these EU interpretations As “intuitive but absurd” from a practical point of view.
According to a source, this is nonsense from BrusselsEU assurances that breaking away from SWIFT will not hinder the transactions of Russia’s Rosselkhozbank With European banks arise from discussions about the extension of the grain agreement.

cereal deal

“There is nothing new in it Clarification of the European Commission which was released to the public on Feb 28th.
It was clear that blacklisted Russian banks; which broke away from SWIFT but does not face EU ban sanctions, is not banned from using alternative means of exchange.
This post appears to be related toWith ongoing discussions between the European Union and the United Nations On the issue of extending ffor the Black Sea Initiative that expires on March 18, Russia also calls on the European Union to lift the sanctions imposed on it Russelbankpointed out.

www.bankingnews.gr

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