WILLEMSTAD – The sanctions measures that the European Union (EU) has announced against Russia, following the recent raid of Russian forces in Ukraine, also have consequences for Curaçao and Sint Maarten. This is announced by the Central Bank of Curaçao and Sint Maarten. 

A number of Russian banks are excluded from Swift. This means that companies and individuals in Curaçao and Sint Maarten with accounts at these banks can no longer perform international transactions.  Also, no funds may be transferred to account holders of these banks.  

Mandatory

The sanctions also mean that claims against foreign customers with accounts at these Russian banks cannot be collected at present either. In connection with the situation in Ukraine, new sanctions measures are announced almost daily. Curaçao and Sint Maarten are legally obliged to implement the EU sanctions.