In its daily operations with customers and in performing transactions in customers’ accounts, the bank strictly observes national and international sanctions, inter alia, those imposed by the European Union, the United Nations Organization, and the Office of Foreign Assets Control (OFAC) of the US Department of the Treasury. The bank is obliged to observe requirements set forth in normative acts with regard to the observation of sanctions; therefore, the bank carries out enhanced inspection of payments and may request additional information and/or documents regarding incoming and outgoing payments.
Sanctions are restrictive measures imposed by international public law and approved by international organisations and/or countries with regard to particular countries, particular subjects of sanctions (terrorists, persons accused of military and political crime, extremist organisations, etc.), or particular activities.
The following types of sanctions are distinguished:
The Bank strongly recommends obtaining and verifying information regarding potential partners and their areas of activity prior to commencing cooperation, as well as updating the obtained information during cooperation paying particular attention to transactions that involve persons from regions and jurisdictions subject to sanctions.
Information on sanctions programmes and countries subject to sanctions is available on the following websites:
In Latvian
Law On International Sanctions and National Sanctions of the Republic of Latvia
Information on the website of the Ministry of Foreign Affairs of the Republic of Latvia.
In Russian
United Nations Security Council Consolidated List
In English
US complete List of Sanctions Programs and Country Information
US OFAC Specially Designated Nationals and Blocked Persons List (SDN) (complete prohibition on USD transactions)
US OFAC Sectoral Sanctions Identifications (SSI) List
Common Military List of the European Union
EU List of Dual-Use Items (COUNCIL REGULATION (EC) No 428/2009)
Normative acts of the European Union in the field of sanctions (in English)
Please note that given high money laundering and financing of terrorism risks, the bank reserves the right to reject transactions related to the following countries:
The bank encourages to exercise particular caution in choosing partners and performing transactions related to these countries.
Should you require finding out additional information regarding prevention of money laundering and observance of sanctions requirements at our bank, please write to [email protected], and our specialist will answer any questions of your concern.