Coop Pank AS suspended all payments to Russian and Belarusian banks on 8 April 2022. This restriction extends to all subsidiaries of Russian and Belarusian banks that may be registered or operate outside of Russia and Belarus.
Starting from 19 August 2022 Coop Pank AS no longer accepts payments linked to Russia or Belarus. This means that starting from this date it will not be possible in an account opened in Coop Pank AS to receive payments initiated by:
- Russian and Belarusian banks or other financial institutions or via the subsidiaries of these banks or financial institutions operating in the EU;
- companies founded outside of Russia or Belarus but of which more than 50% of the owners are from Russia or Belarus; or
- companies founded in Russia or Belarus via any other bank or financial institution.
Coop Pank AS may also decline to perform a transaction if it identifies a Russian or Belarusian party in the goods supply chain or otherwise involved in the transaction or if the final beneficiary of the goods or service is Russian or Belarusian.
As an exception, payments linked to Russia or Belarus will be accepted if they pertain to the national interests of Estonia or humanitarian reasons, such as benefits or pensions. We will also allow our clients, as an exception and for valid reasons, to accept payments related to exiting businesses linked to Russia or Belarus.