Dutch banks implement European sanctions

Dutch banks are implementing the sanctions announced by the European Union in response to the situation in Ukraine. The sanctions involve measures against members of the Russian Duma and other Russians involved in the threat against Ukraine.


Their accounts are being frozen, and their financial transactions blocked. If there is an attempt to make a financial transaction that has been sanctioned these will be reported to the Dutch Central Bank (De Nederlandsche Bank (DNB). The sanctions also entail cutting off economic relations with the Donetsk and Luhansk regions and blocking the access of the Russian Government and the Russian Central Bank to European financial markets, which covers loans, credits, securities and other money market instruments. We are also awaiting the public announcement of further sanctions.