Banks of Armenia, Georgia and Kyrgyzstan stop cooperation with Russian Unistream due to US sanctions

Banks of Armenia, Georgia and Kyrgyzstan have stopped cooperating with the Russian Unistream payment system after the US imposed blocking sanctions against it.

Source: This is reported by Forbes.

Details: It is noted that Armenian banks, including Ardshinbank, Armeconombank and Evocabank, announced the termination of money transfers through Unistream. Bank of Georgia suspended transfers among Georgian banks.

The Russian payment system also stopped working among the Kyrgyz banks Kompanion Bank and DemirBank, Asia Alliance Bank and Aiyl Bank.

Quote: "FINCA Bank stated that it has suspended the issuance and sending of funds through Unistream in dollars and euros, while the restriction does not apply to the rouble," the announcement reads.

It is added that on 20 July, the Unistream payment system came under US blocking sanctions.

Background:

The US State Department on Thursday announced sanctions against a number of senior Russian officials as part of an effort to hold accountable those Russians who are contributing to Russia's illegal war.

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