Tinkoff suspends money transfers to Turkey

Russia’s Tinkoff Bank announced it has stopped money transfers to Turkey amid the Western sanctions.

"Regrettably, we cannot transfer money to this country. Due to the sanctions, SWIFT transfers can be frozen by a counterparty bank. So, we have temporarily suspended transfers," a bank spokesman said, according to TASS.

The bank could transfer money to several Turkish banks before it fell under the sanctions.

Currently, the bank executes ruble transfers to several banks in Tajikistan, Armenia, Uzbekistan, Kyrgyzstan, and Uzbekistan.

Dollars can be transferred to Armenia (all banks except Ardshinbank), Uzbekistan (several banks), Belarus (BTA Bank), Kyrgyzstan (Keremet Bank), Mongolia (Khan Bank), Tajikistan (Orienbank), Kazakhstan (CenterCredit, Home Credit, Jusan Bank, and Freedom Finance).