US banks stop dollar transfers for Russia’s Gazprombank
"Due to the unilateral decisions of U.S. financial institutions, Gazprombank's correspondent accounts in U.S. dollars with JPMorgan Chase Bank and Bank of New York Mellon will be terminated," the Russian bank said in a statement.
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Gazprombank asks its customers not to use its services for cross-border transfers in U.S. dollars starting from Jan. 27.
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"This will not affect Gazprombank's operations – servicing of our clients' accounts and deposits in dollars, as well as cross-border transfers in other currencies, will continue," the bank stated.
Earlier, many Russian banks were forced to suspend all or part of their foreign currency transfers (mainly in dollars and euros) due to the actions of foreign correspondent banks.
Ukraine has repeatedly called for expanding sanctions against the Russian banking system, including disconnecting Gazprombank from the SWIFT system.
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