Sanctions will impact transactions involving select banks

4 March 2022

Sanctions imposed by various national governments as a result of military action in Ukraine will see transactions with some Russian entities fail to go through.

That means Heritage members attempting to conduct a transaction with an entity that uses one of the below financial institutions will not be successful.

Visa is suspending transactions and access to its network to entities that have had sanctions imposed on them as a result of Russia’s military action in Ukraine.

These entities include:

• Joint Stock Commercial Bank Novikombank (Novikombank)
• Open Joint Stock Company Sovcombank (Sovcombank)
• OZON Bank LLC Limited Liability Company Ozon Bank
• Open Joint Stock Company Rosgosstrakh Bank
• Publick Joint Stock Company Bank Financial Corporation Otkritie (Otkritie)
• Bank Dabrabyt Joint Stock Company
• Belarussian Bank of Development and Reconstruction Belinvestbank Joint Stock Company (Belinvestbank JSC)
• Vietnam Russian Joint Venture Bank
• JSC Sarovbusinessbank
• West Siberian Commercial Bank Public Joint Stock Company
• BM Bank Public Joint Stock Company (BM Bank JSC)
• VTB Bank Georgia Joint Stock Company
• CJSC VTB
• VTB Bank Armenia CJSC
• VTB Bank Subsidiary Joint Stock Company
• VTB Bank Public Joint Stock Company (VTB)
• Bank VTB Azerbaijan OJSC
• Belvnesheconombank Open Joint Stock Company
• Promsvyazbank PJSC

Members looking for more information should visit the Australian Government’s Smart Traveller website.