Impact of new sanctions on AB Mano bankas customers
2022 March 22
AB Mano Bankas informs that as of March 1, 2022, it will not make any payments in any currency to financial institutions operating in the territory of Russia and Belarus and will stop all incoming payments from Russia and Belarus for detailed verification.
We understand that this may upset both you and your customers. We ensure that AB Mano Bankas takes all necessary steps to ensure the continuity of services in compliance with EU sanctions and requirements. The Bank operates in the normal manner, and all banking functions and services not related to Russia and Belarus are provided in the usual manner.
Please note that:
- The Bank will not be able to accept deposits and payments from Russian and Belarusian citizens, natural persons resident in Russia or Belarus or legal entities established there if their total value in one credit institution exceeds EUR 100,000
- It is important to responsibly assess the risk of sanctions in advance, taking into account the imported or exported goods, the final consignee, and the intended use of the goods, before working with business partners based in Russia and Belarus, as well as before conducting any transactions involving Russia and Belarus;
- You should be prepared to provide, at the request of the Bank, supporting documents for payments - customs documents, import or export permits, bills of lading, and information on beneficiaries;
- It is important to provide complete and accurate information about the purpose of the payment in the free text field. In addition to the invoice number, please indicate the final recipient of the goods or other relevant information when making payments;
- It is important to check that the client and its directors, shareholders, ultimate beneficial owners beneficiaries are not included in the list of persons subject to EU sanctions, and legal entities with links to the US, check that the client and its manager, shareholder, beneficiary are not on the US sanctions list.
The list is not exhaustive and is being constantly reviewed and updated as necessary. Due to the large number of new sanctions that are rapidly being issued, updates may be slightly delayed, therefore, it is important to note that the implementation of EU sanctions should, in particular, be governed by EU law published on the Official Journal of the European Union.
Please note! Due to the sanctions imposed by the EU on Russia and Belarus, AB Mano Bankas may apply extended payment transaction verification processes. As a result, the time required to complete a transaction may be extended.
- implementation of international sanctions Lithuanian security policy Lithuania in the region and in the world Foreign policy Ministry of Foreign Affairs of the Republic of Lithuania (urm.lt);
- an interactive EU Sanctions Map;
- the public official publication of the EU, EUR-Lex, which provides up-to-date information on EU legislation on restrictive measures);
- guidelines on certain aspects of Regulation (EU) No Implementation of the provisions of Regulation (EU) No 833/2014 concerning restrictive measures (in English) (1_act_part1_v2_en.pdf (europa.eu));
- international financial sanctions Financial Crime Investigation Service (fntt.lt);
- EU Sanctions: Frequently Asked Questions (in Lithuanian).