OREANDA-NEWS  Raiffeisenbank customers will no longer be able to make outgoing payments in euros to other banks from July 3 if the recipient's bank is located in Russia, Azerbaijan, Armenia, Belarus, Georgia, Jordan, Kazakhstan, Kyrgyzstan, Moldova, the United Arab Emirates, Tajikistan, Turkmenistan and Uzbekistan, according to the credit institution's website. The Bank explained the change in the conditions by "restrictions imposed on the side of correspondent banks."

The new conditions apply to both individuals and individual entrepreneurs, as well as legal entities.

"The restriction also applies to outgoing transfers in euros to customers' own accounts opened with other banks in one of the listed countries," Raiffeisenbank said. They recommended customers to change the transfer currency or choose other payment methods. Customers will still be able to transfer euros between their accounts or send them to another Raiffeisenbank customer, they explained.