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UBB updated the General information for the customers of UBB on embargo restrictions and sanctions
16 June 2022
Dear customers,
We would like to inform you that UBB updated the General information for the customers of UBB on embargo restrictions and sanctions, as well as the General terms of UBB on payment services for individuals and for business clients.
With this update UBB aims at presenting in a clearer way the consequences of introducing the embargo restrictions and sanctions against certain countries, entities and persons. In a dynamically changing international environment and increasing embargo and financial sanctions (including, but not limited to, towards the Russian federation after the military actions in Ukraine), UBB cannot guarantee the execution of payment orders to and from countries and counteragents, affected by embargo restrictions. It is therefore possible that after 20.06.2022 for business clients and after 01.08.2022 for individuals, UBB to refuse to effect a payment order from and to a Client’s account in the cases from and to the countries, as listed in the General Information for UBB clients on embargo, restrictions and sanctions, including from and to the Russian Federation. It is also possible that payments made will experience significant delay.
In case you have any further questions, please contact us.
Sincerely,
UBB Team
