Please be informed that ProCredit bank carries out enhanced due dilligence of international money transfers to ensure full compliance with international sanctions against Russia and Belarus, as well as Iran, including the restrictions provided by the OFAC, European Union (EU), Great Britain (UK) and United Nations (UN) sanctions regimes.

Considering the updates/changes of the sanctions regimes, Procredit Bank also updates the procedures related to the control of international money transfers in order to exclude the participation of the sanctioned entity in the transaction or to avoid a transaction that will contribute to the strengthening of the Russian military-industrial sector. Not to import, export or re-export sanctioned products to Russia and Belarus, as well as circumvent the imposed sanctions by using a third country.

At the same time, the Bank continues to comply with the sanctions imposed on the Islamic Republic of Iran in order to exclude the execution of transactions directly or indirectly related to the Islamic Republic of Iran, including those transactions related to the transportation of goods through Iran, the import of products of Iranian origin, or the payments to an Iranian counterparty. The prohibitions also apply if international sanctions against Iran are circumvented by using other countries.

The bank reserves the right to suspend the incoming/outgoing transaction for further examination and to request additional information/documentation both at the moment of execution of the transaction, as well as for already executed transactions. If the information/documentation requested by the bank is not submitted or is not complete/sufficient, the transaction will not be executed.

Please be aware that conducting a transaction that violates sanctions or aids in circumventing imposed restrictions is strictly prohibited. If such an incident is identified, the bank reserves the right to end its business relationship with the customer without prior notice.

For the smooth international wire transfers, you need to provide the Bank with the documents set out in the Attachment. See the list of documents to be submitted.

The rule will be effective from September 2, 2024.