Belagroprombank claims that SWIFT cut-off would not affect bank’s operations

March 11, BPN. “Belagroprombank will continue to operate as usual, despite the temporary cut-off from the Society for Worldwide Interbank Financial Telecommunications, SWIFT,” the bank said in a statement.

It is reported that the financial institution implemented in advance “all the necessary measures to ensure the smooth operation of the bank in terms of settlements, execution of transactions on payment cards and other services to private and corporate clients.”

As reported, on March 9, the EU introduced a number of new restrictive measures against Belarus in response to its participation in Russia’s aggression against Ukraine. Belagroprombank, Bank Dabrabyt and the Development Bank of Belarus were disconnected from SWIFT. These banks, along with Belarusbank and Belinvestbank, were also previously included in the EU sanctions list with restrictive measures of a different nature.

SWIFT is an international interbank system for transferring information and making payments. It allows financial institutions around the world to send and receive information about financial transactions in a secure, standardized and reliable manner.

On February 27, Aliaksandr Lukašenka commented on sanctions against the economic sphere and the banking sector in particular. “Gas, oil, SWIFT. It’s worse than war. This is pushing Russia into WW3. Here’s why we have to be discreet, so we don’t get into trouble. Because nuclear war is the end of everything,” he said.