Priorbank Bans Euro, Dollar Transfers To Alfa-Bank Accounts

The Belarusian clients faced a new problem.

Priorbank's clients faced a ban on making payments and transfers in US dollars and euros to the accounts of the Belarusian CJSC Alfa-Bank, writes Nasha Niva.

“We inform you herewith that payments in favor of customers of non-resident banks of the Republic of Belarus with the participation of organizations of the Alfa-Bank group and JSCB Kapitalbank (Uzbekistan) in US dollars and euros will be rejected by the bank in connection with the internal policy of the RBI,” such a message comes to the bank's clients when they try to make a transfer to the account of the Belarusian Alfa-Bank CJSC.

The RBI in the message refers to Raiffeisen Bank International. Important to note, the main beneficial owner of Priorbank OJSC is Raiffeisen Landesbanken Holding AG (Austria), a subsidiary of Raiffeisen Bank International AG.

CJSC Alfa-Bank belongs to the international financial consortium Alfa Group. In April, the Russian Alfa-Bank came under US blocking sanctions. Previously, the EU introduced restrictive measures against this bank. The management of the Belarusian subsidiary believes that these sanctions do not apply to the Belarusian bank.