The European and American sanctions imposed on Belarus in summer, in response to the repression and forced landing of the Ryanair flight, hit the Belarusian banking system. Thus, European banks began to close correspondent accounts in dollars and euros for Belarusian banks, without which it is impossible to conduct transactions in two main world currencies.
Deutcsche Bank, a key correspondent bank for state credit institutions of the republic, has closed correspondent accounts of Belarusbank, Belinvestbank and Belagroprombank.
Against the backdrop of severe restrictions, Belarusian business suffers. The movement of currency is technically possible only through intermediate Russian banks, but this all makes it very difficult to fulfill existing contracts and jeopardize new ones.
If earlier the delay in payment by three days was considered a scandal, now the norm is two weeks, because money travels half the world to get where it needs to be. And this is just the beginning. Further it will be more fun….