YEREVAN, February 25. /ARKA/. VTB Bank (Armenia), the Armenian branch of the Russian state-backed bank, said today it continues to provide the main types of financial services, maintaining a high level of liquidity and capital, saying also that the sanctions imposed by Western countries on Russia will not affect the safety and availability of customer funds.
EU leaders held an emergency summit in Brussels on Thursday in the wake of Russia’s invasion of Ukraine and agreed on sanctions designed to impose “massive and severe consequences” on Moscow.
The sanctions cover the financial sector, the energy and transport sectors, dual-use goods as well as export control and export financing, visa policy, additional listings of Russian individuals and new listing criteria.
“All the accounts (in the bank) are active and customer funds are available both in the bank’s branches and through remote channels. They can still be used in full to conduct all transactions in the national currency in Armenia. The bank fulfills its obligations to customers,” VTB Bank (Armenia) said in a statement.
It noted that cash withdrawal is possible from any ATM and partner banks throughout Armenia. Customers who are currently abroad are advised to withdraw cash or pay with cards of other banks.
The activities of VTB Bank (Armenia) CJSC are regulated by the Central Bank of the Republic of Armenia. -0–
