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Belarus banking unaffected by EU sanctions against Iran

MINSK, 28 November (BelTA) – The toughening of the EU sanctions against Iranian banks will not result in any problems for the Belarusian banking system, First Deputy Chairman of the Board of the National Bank of Belarus Nikolai Luzgin told reporters on 28 November, BelTA has learnt.

Some time ago the EU had imposed a tough new package of sanctions against Iranian banks. There are several banks with Iranian capital in Belarus. Speaking about a possible impact of the EU sanctions on the operation of these banks and the overall banking system of Belarus, Nikolai Luzgin said: “We monitor the situation; the banks are operating, but their operations are somewhat restricted. Certain recommendations concerning re-branding were put forward.”

“It poses no threats to the entire banking system of the country. Those are two small banks. Their role is pretty small. They perform certain functions. The overall situation does not cause any concern,” Nikolai Luzgin concluded.