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Sanctions against Serbia, Estonia takes first step: Bank payments blocked from September 1

2023-08-12 17:04:10Kosova&Bota SHKRUAR NGA REDAKSIA VOX
Sanctions against Serbia, Estonia takes first step: Bank payments blocked from
Illustration photo: Serbian flag and EU flag


From 1 September, Estonian bank LHV is expected to impose a limit on payments with Serbia and four other countries. Nikola Lunic, executive director of the Belgrade Strategic Policy Council, announced the news.

He tweeted that Estonia was the first country to impose sanctions on Serbia.

"Their bank LHV has introduced a restriction on payment transactions that currently apply to 5 countries, including Serbia. The reason is "the difficult international situation caused by Russia's aggression. It should be noted that Estonia is a member of both the EU and NATO," he wrote on Twitter.

Lunic also added a link to the bank's website and a text entitled: "New restrictions on payments to/from Armenia, Serbia, Uzbekistan, Kyrgyzstan and Kazakhstan."

"In relation to the difficult international situation caused by Russia's aggression, from 1 September 2023, no payment can be made or received from the banks of Armenia, Serbia, Uzbekistan, Kyrgyzstan and Kazakhstan," the text said.
As cleared, the restriction applies to all currencies, as well as all branches of banks that may register or operate outside the said countries.

"We are making every effort to ensure that all payments made up to and including 31 August 2023 reach recipients. All payments made after September 1, 2023 will be returned to the payer. In exceptional cases, we may receive payments from specified countries if the recipient of the payment has informed us of his legitimate interest (p.sh. Estonia's national interest, social reasons, etc.) ", the notice reads.


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