Kazakhstan's Home Credit Bank has announced the cessation of interaction with "VTB Kazakhstan" due to international sanctions imposed against the latter.
From September 12, 2024, Home Credit Bank will stop transferring customer funds to "VTB Kazakhstan" and accepting payments from this bank. This decision was made to minimize the risks of secondary sanctions that may affect Home Credit Bank customers.
This decision was a reaction to the fact that in early July, the United States added "VTB Kazakhstan" to the list of sanctioned individuals and legal entities, which increases the risk of secondary sanctions for organizations interacting with this bank.
U.S. Deputy Secretary of the Treasury Wally Adeyemo previously announced possible sanctions for countries opening branches of Russian banks, even if they are not included in the sanctions lists.
Read materials on the topic:
Kazakhstan's Freedom Bank Resumes Transfers via "Zolotaya Korona"
"Indefinitely": Kyrgyz "Keremet Bank" Freezes Money Transfers to and from Russia
Money Transfers Between Russia, India, and Iran Will Become Easier and Faster