EU sanctions against Russia: What are the reporting requirements for transfers of funds?
Since the beginning of Russia's war of aggression against Ukraine in February 2022, the EU considerably extended the restrictive measures against Russia in several sanctions packages. With the 12th sanctions package of 18 December 2023, the European Union introduced a notification procedure for transfers of funds. As a result, affected companies and their banks are subject to a reporting obligation. Whether you are subject to this reporting obligation can be found in our PDF file on the reporting obligation for transfers of funds.
With regard to our reporting obligation as a credit institution, please inform us if your proprietary rights are directly or indirectly owned for more than 40 % by:
Do you have Russian shareholders? Please inform us!
- legal persons, entities or bodies established in Russia;
- Russian nationals, or
- natural persons resident in Russia.
Is this information helpful?
Others also asked:
Haven't found the right solution? Then we will be happy to help you personally.