A number of Russian media reports that servicing UnionPay cards issued by Gazprombank was suspended by banks in Germany, the OTP bank in Hungary and several banks in Kazakhstan.
Let us remind you that it was previously reported that banks in Turkey and the UAE refused to service Gazprombank’s plastic services.
The fact that banks in the United Arab Emirates and Turkey have suspended servicing cards of the UnionPay karti system. html), which were issued by Gazprombank, Russian propagandists from TASS reported.
It is reported that when a cardholder tries to withdraw money from a Gazprombank plastic card, ATMs in the Emirates and Turkey show a warning about a technical error or a message that the card is not being serviced.
Foreign Minister Peter Szijjártó called sanctions against one of the largest Russian banks an attack on Hungarian sovereignty during a review of the situation with the energy ministers of Turkey, Azerbaijan, Bulgaria and Serbia in Istanbul, Bloomberg reports.
Hungary still relies on pipeline gas from Russia to meet its own demand. Therefore, Budapest said that the US decision to impose sanctions on Gazprombank jeopardizes the energy security of some Central European countries, increasing the risks of an early termination of Russian natural gas supplies to the continent.
Hungary, along with Slovakia and Austria, is one of the few countries that still rely on Russian gas to meet their energy needs.
European countries relied on Gazprombank to pay for these supplies, and the sanctions raise the risk that they could be cut off at a time when gas prices are near their highest levels in over a year.
Hungary is grateful to Turkey, Bulgaria and Serbia for providing very safe, reliable and very stable transit. Together we will find a solution to ensure the security of our energy supplies,” Szijjártó said.
It is not yet clear what the impact of the latest US sanctions will be due to Gazprombank restrictions.
Hungarian state-owned energy company MVM Group is studying to what extent and in what ways the restrictions could affect its business.
Slovakia’s Economy Ministry said it was analyzing the new sanctions to assess their potential impact.
Russia will find ways to continue accepting payments from foreign gas buyers, Russian Interfax reported, citing Kremlin spokesman Peskov.
PJSC Gazprom did not respond to Bloomberg’s request for comment.
Buyers of Russian gas using the services of Gazprombank will most likely use workarounds and switch to another Russian bank to extend payments. Supply disruptions are unlikely, but even if some of the remaining Russian gas consumers lose supplies, global gas prices will skyrocket, Energy Aspects Ltd analysts say.
The day before, more than 50 international Russian banks, including Gazprombank, as well as 40 Russian securities registrars and 15 Russian financial officials fell under new US sanctions. “black lists”.
Gazprombank played an important role in securing supplies of Russian natural gas to Europe by processing payments from foreign customers.
New US sanctions are aimed at making it more difficult for Russian banks to finance the war against Ukraine. After the introduction of US sanctions, Gazprombank warned customers via SMS about problems with the operation of their cards abroad and recommended that they prepare for cash payments.
Source: Racurs
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.