Barcelona city tours is a perfect opportunity to have a perfect vacation outside the Baltic States. Gene Zolotarev on how to destabilize the EU financial system. Andris Berzins
Vladimir Linderman aka Abel Edmunds Sprudzs Valdis Zatlers Aivars Lembergs Girts Valdis Kristovskis Maris Grinblats Guntars Krasts Alfreds Rubiks Sandra Kalniete Raivis Dzintars Algirdas Butkevicius Algirdas Paleckis Dalia Grybauskaite Kazimira Danute Prunskene Vytautas Landsbergis Rolandas Aksas Viktor Uspaskich Valdemar Tomasevski Leonidas Donskis Arturas Zuokas Edgar Savisaar Andrus Ansip
The current website developed by YWSolution Limited

Russia’s SMP Bank hit by U.S. sanctions

Mar 21, 2014
From wire reports, RIGA

International payment systems Visa and MasterCard on Friday, March 21, halted operations with bankcards issued by SMP Bank, founded by Russian billionaires Arkadiy and Boris Rotenbergs who have been hit by U.S.sanctions following the Ukraine crisis, reports Novosti.

All other banking operations, including deposit withdrawals and bank payments, proceed as usual, the bank said in a statement, adding that its correspondent accounts abroad were functioning as per normal and the bank had not been informed about any interruptions in its lines of credit.

The United States on Thursday expanded its sanctions against Russia, and SMP Bank co-owners Arkadiy and Boris Rotenbergs were also hit by the sanctions.

SMP Bank holds a controlling interest in Latvia's SMP Bank, where both Rotenbergs are members of the council.

However, bankcards issued by the Latvian branch of SMP Bank are not affected by the U.S. move, SMP Bank board member Maija Treija said.

The Latvian SMP Bank is an independent bank that operates pursuant to the rules and regulations of the European Union, and it is not a branch of Russia's SMP Bank. Therefore, the decision by Visa and MasterCard to block the operations with bank cards issued by Russia's SMP Bank have no effect on the Latvian bank, stressed Treija.

SMP Bank honors all obligations to its customers, said Treija.

The Latvian SMP Bank also has a branch in Lithuania.

 MORE NEWS
  • Open letter urges permanent NA...
    One hundred public figures from the Baltics have urged U.S. President Barack Obama...
  • PM: ’Lithuania’s support for U...
    Lithuania's Prime Minister Algirdas Butkevicius claims that ties between Vilni...
  • Fazer to close Estonia factory...
    Finnish bakery and confectionery firm Fazer will close its Tallinn factory making ...
  • VIDEO: ’Do you regret the kill...
    A brave journalist has 'doorstepped' Russian President Vladimir Putin o...
  • ’Clumsy’ EU fails to reach agr...
    The EU has failed to agree over new sanctions against Russia due to 'clumsy...
  • Estonia to support fight again...
    Estonia will allocate 50,000 euros to support the spread of the deadly ebola vi...
  • Riga Apartments for Rent

    Maximus
    © 2014 BALTIC NEWS LTD. All Rights Reserved.