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Payments to and from Sudan
DNB has decided to temporarily suspend payment transfers to and from Sudan, due to the fact that conflicts in the country have escalated significantly over the past month. Most Western embassies and aid organisations have been evacuated, and other international attendance has been greatly reduced, as a result of the chaotic and unstable situation. There are no staff at work in the banks to handle payment flows and other banking operations, and DNB cannot currently guarantee that the funds will arrive.
Current news
Internal information for the Partner Banks - the situation in Ukraine
Following the Russian invasion of Ukraine on the night of 24 February, there are many questions surrounding international payments. The situation is extraordinary and unclear, and DNB is monitoring it closely based on available sources.
Sanctions have been imposed against Russian individuals, companies and banks, both from the US, EU/EEA and the United Kingdom. Further sanctions are expected going forward. Trade with Russia and Ukraine may therefore become very challenging in the future, and the regulations are changing from day to day.
Extensive cyber attacks against Ukrainian banks have been reported. DNB is not aware of whether Ukrainian banks' infrastructure is intact to receive funds, or whether they have been paralysed by the attacks. In the event of a further invasion towards cities such as Kyiv, Ukrainian banks may come under Russian control. No one knows how this will affect transactions to Ukraine. Due to the highly uncertain situation in the country, the risk of sanctions being imposed and ongoing cyber attacks against Ukrainian banks, there is uncertainty as to whether payments to recipients in Ukraine will arrive. Furthermore, it is not possible to transfer funds to or from the following areas: Crimea, Sevastopol, Donetsk and Luhansk.
In the current situation, banks and payment systems may be affected in such a way that your business risks not receiving payment for goods or services you have delivered. Similarly, it may be challenging to complete payments to recipients in Russia and Ukraine, and the same applies to transactions from these countries to Norway. DNB has many correspondent banks to facilitate international payments, and all of these banks make an independent assessment of the risk. DNB cannot therefore guarantee that payments initiated in the online bank will actually reach their destination. Transactions may be frozen in transit and it may take time before the funds are returned.
Norwegian banks cannot process transactions that are subject to international sanctions. It is the responsibility of their customers to assess the sanctions risk for their own business operations. The bank's customers must have the necessary knowledge of sanctions and export control regulations when operating in countries subject to restrictions. If the customer is in doubt, they must seek legal advisory services from a law or accountancy firm with sanctions expertise. They can also contact the Ministry of Foreign Affairs for guidance.
More general information from DNB about the sanctions regulations can be found here:
These are the rules that apply to sanctions - DNB News
Useful pages on international sanctions:
News - EU/EEA Sanctions (europeansanctions.com)
Press releases and statements - Consilium (europa.eu)Restrictive measures (sanctions) | European Commission (europa.eu)Ukraine-/Russia-related Sanctions | U.S. Department of the Treasury
UK sanctions relating to Russia - GOV.UK (www.gov.uk)
If you require further information, for example in connection with the execution of specific transactions, please contact us at: iat@dnb.no leave your contact information – and we will get in touch as soon as we can.
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