Policy News

BAFT Introduces Economic Sanctions Resources Hub

BAFT’s Economic Sanctions Resources Hub is a collection of links and documents to various resources across numerous international jurisdictions that can help you and your organization manage economic sanctions impacting the global transaction banking industry.

BAFT is committed to providing details on economic sanctions and export controls enacted by the European Union (EU), the United Kingdom (UK), the United States (U.S.), and other international jurisdictions in response to Russia’s violations of international law and the territorial integrity of Ukraine. We are also providing details on economic sanctions and export controls enacted by the EU, Japan, the UK, and the U.S. in response to Belarus’ role in the invasion of Ukraine.

The Economic Sanctions Resources Hub features industry statements on Russian sanctions from credit card and payments processers including SWIFT, international development and trade organizations including the EBRD, the ICC, the IMF, and the World Bank Group; in addition to jurisdictional resources on Russian sanctions from Australia, Canada, the EU, Iceland, Israel, Japan, Liechtenstein, New Zealand, Norway, Singapore, South Korea, Switzerland, the UK, and the U.S.

We encourage members to actively monitor this resource hub as sanctions could change on a frequent basis, and we will endeavor to keep our community updated on changes that impact our industry.

As you review the sanctions and export controls we encourage you to send your questions and items for clarification to [email protected]. We will consolidate member questions and engage with the Office of Foreign Assets Control (OFAC) on behalf of the industry.