At least three Serbian banks have payment transactions with Russia, there is an increase in phone reexport through Serbia

Following the May visit of the international special envoy for monitoring the implementation of sanctions on Russia, Serbia took concrete steps and banned the reexport of products under sanctions.

On this year's list of most important visits to Serbia, the top state leader must certainly single out the coming in May of David O'Sullivan, the special international envoy for monitoring the implementation of sanctions against Russia.

The European Union and its partners have once again included Serbia in the group of troubled countries, this time after noticing that we are one of those countries through which different “people” try to bypass sanctions imposed on Russia and send products or parts there. that are on the list of sanctions, because they can be used for weapons production and used on the Ukrainian front.

From meetings with Aleksandar Vucinqi and Ana Brnabyqi, only the tapes and photos of the news agency, as well as reports on our part, but to be particularly noticed was seriousness, poker face and north. The Atlantic cold of this Irishman, a career diplomat for many decades who did not melt the president's popular Sheret smile at all.

In a way that has already been seen several times, the president and prime minister announced that what the guest came for is not being done through Serbia and stressed that we are “a reliable partner (in Brnabisic's case and “faithful”). “for the European Union.

O'Sullivan said nothing, he just went on to other destinations.

Serbia did not impose sanctions on Russia, which made it interesting and attractive for those who want different goods to reach Russia. Someone had bad intentions, and someone was not interested in breaking sanctions, but in saving his business. So there was a Polish businessman in Serbia who, before the war, exported 100% of his production to Russia. The situation under Ukraine caught him unawares, so he tried to find a way to transport his products to our country as soon as possible.

We see direct export of products

One of the reasons was to pay, because about 70% of Russia's banking sector (read the biggest banks) is excluded from the SWIFT system and almost disconnected from the world of those who imposed sanctions. Serbia's advantage was that Serbian banks can conduct payment transactions with Russia without obstacles.

At least three banks continue to carry payment transactions, two independent sources known to the banking sector have confirmed to Forbes Serbia, but have sought to remain anonymous because of the topic's sensitivity. They also agree in their rankings.

The Mystery of Paying Transacts

Feelings (or, better off) is the key word that describes this subject. If Serbia has not imposed sanctions and can freely trade with the Russian Federation (if it is not about products under sanctions), it is unclear why institutions do not want to talk about it.

Although it is always ready to be open to the media (that it regularly publishes answers to media questions on its website), the National Bank of Serbia has not wanted to answer Forbes' question about which banks have conducted payment transactions. Russia since the beginning of the war in Ukraine.

They won't even confirm it.” Neither they nor the Directorate for Money Laundering Prevention nor anyone” is safe one of our sources. What it further feeds on is its estimate that any trade with Russia must receive “approval from above”.

Serbia is ultimately small...

What, according to him, saves Serbia is that Russia's needs are large and Serbia's opportunities are small, so we cannot be training grounds for large transactions. As he put it, even if someone wanted to transport large quantities of goods through us, there would be no logistical conditions, that is, no cars or trucks. But the report of small components can find its way to our country.

He adds that the report through Serbia is subjected not to large companies, but to small agents. And that's why banks can find themselves in trouble. As he explains, one of the patterns of bypassing sanctions is that goods never enter Serbia. She goes east, and the bank from Serbia makes the payment by transferring the money to the correspondent bank because she doesn't have her own operations in that part of the world. After that, goods and money may change several other destinations before ending up in Russia, making it difficult to trace flows. Whether they know it or not, they are being attracted to something that may be illegal and under the supervision of the EU and the US.

Another way, or just a version of the first model, is that Russian citizens of “dalen” in countries that have not imposed sanctions against Russia and create companies there through which they buy the necessary goods and then export them to their mother country.

And this is when banks in Serbia should be careful. Forbes Serbia's questions to banks if they conduct payment transactions with Russia and how do they protect themselves from the possibility that someone will be involved in a transaction that serves to bypass sanctions? API Bank, which bears that name according to the Bank of Moscow, changed its name to the VTB, and then to the current name. Is owned by Company A The ZRS investment doo, which is owned by 100% of Russian businessman that way Shlyakovojo with the Grenada passport.

When he bought V operations TB Bank in Serbia, Reuters reminded in the article about the transaction that the US blocked its other bank, Agrosoyuz, from access to the American financial system due to claims that the bank managed “important transactions on behalf of a person. which was on the list of sanctions for activities regarding weapons of mass destruction in connection with North Korea”.

Confirming in Banks

API Bank says they are a Serbian bank that operates in accordance with domestic regulations and that since Serbia has not imposed sanctions on Russia, payment transactions operate through them.

“Banka is not part of any international group and is not present abroad, although capital is of foreign origin. API Bank operates in accordance with Serbia's laws and other acts and does not open payment accounts to customers from the EU and US-sponsored list. We operate in line with business plans approved regularly in response to customer requirements, both deposit products and credit products, while payments to international payment transactions are made in the business area, in line with current opportunities.

By carefully respecting rules in the area of money laundering prevention, our bank, in the case of establishing business co-operation, identifies clients, both physical and legal persons, residents and non-residents (Despite their citizenship), appoints business activity as well as the purpose and purpose of establishing business co-operation”, they reply. in the API Bank saying they can't say anything about transactions verification mechanisms, because they apply to the bank's confidential procedures and their public publication can be misused.

Since other banks did not want to answer questions, Forbes Serbia journalists applied the “secret buyer technique to check if Russia's allowed payment can be made.

Officials at Poshtanska Stedionica and Alta Banka confirmed that as a legal person we can conduct trade transactions with Russia, as well as payment with a company in that country, and explained the procedure.

Why they didn't want to confirm this from their headquarters through an official response to our investigation, even though it's a completely legal matter, it will remain a mystery.

And because of Belgrade's unwillingness to impose sanctions on Russia, it is evident that Serbia will remain under surveillance for a time in a group of countries like China, Turkey, the United Arab Emirates, Armenia, Georgia, Kazakhstan, Kyrgyzstan.

“Gopi” O ullivan took with him to “turne” was Brussels' threat to punitive measures against countries through which illegal trade develops.