Two major lenders tighten limits on Russian transactions

Raiffeisen stops euro payments to Russia, and Bank of China stops yuan payments from Russia

Russia-Ukraine conflict

Two major international banks – one European and one Chinese – announced they have restricted foreign currency transactions with counterparties in Russia and other former Soviet countries.

On June 21, Raiffeisen Bank said it would not transfer euro-denominated payments to other banks located in Russia or eight other former Soviet republics. The measure, starting from July 3, also applies to banks in Azerbaijan, Armenia, Belarus, Georgia, Kazakhstan, Kyrgyzstan, Moldova, Tajikistan, Turkmenistan

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