The war in Ukraine:
Stay updated on sanctions and economic insights

Danske Bank continues to monitor the situation in Russia and Ukraine, especially with respect to the imposition of relevant international sanctions and their potential impact on the Nordic countries and markets. On this page, you can find information about the financial and economic implications of the Ukraine invasion.
 

Payments involving Russia, Belarus or Donbas  

The ongoing unstable situation caused by the war in Ukraine and the associated financial sanctions are making it increasingly difficult for us to help our customers with their payments involving Russia, Belarus or the Donbas region.

To focus our efforts on helping customers who have already submitted or received payments involving these regions – while making sure that we comply with the sanctions at all times – we have decided that Danske Bank will not process new payments involving Russia, Belarus or the Donbas region for the time being.

While we are aware that the situation for our customers may be very difficult, we have made this decision to reduce the uncertainty related to the processing of payments.

What does this mean for our customers?
New payments to or from Russia, Belarus or the Donbas region will not be processed.

While we do what we can under these difficult circumstances, we still cannot guarantee that existing payments will be processed. For some existing payments, the processing is taking longer than usual, and customers may be asked for additional information, while other payments will be rejected.

We continue to monitor developments closely and are working hard to adjust our support as the circumstances change.


Overview of recent sanctions activity

Click to get an overview recent sanctions activity

Take a look at this brochure to be more informed about sanctions and what you can do to identify sanctions related risks.

Restrictions on Russian securities at Danske Bank

As of 25 March 2022 and until further notice, Danske Bank has decided that it will no longer accommodate any trade execution, settlement or safekeeping of Russian securities that are not already held in a custody account with Danske Bank or transfer any Russian securities or other financial instruments to a custody account with Danske Bank.

This restriction covers all securities issued by Russian entities and other financial instruments, including ADRs (American Depositary Receipts) and GDRs (Global Depositary Receipts) issued by or based on Russian entities. In the following, such securities and other financial instruments are collectively referred to as “Russian securities and financial instruments”. 

Accordingly, customers of Danske Bank can no longer

  • buy Russian securities and financial instruments to be held in their custody accounts with Danske Bank
  • transfer Russian securities and financial instruments to their custody accounts with Danske Bank
  • in any way increase their holdings of Russian securities and financial instruments in their custody accounts with Danske Bank

However, customers may keep any Russian securities and financial instruments already held in their custody accounts as at 25 March 2022.

The same restrictions apply to funds with investments in Russian securities and financial instruments.  

If you have any questions about how this might affect your investment portfolio, you are always welcome to contact one of Danske Bank’s advisers.

Consequences of the war in Ukraine
Danske Bank is generally monitoring the conflict in Ukraine closely, especially with respect to the imposition of relevant international sanctions and their potential impact on the Nordic countries and markets. Following sanctions imposed by and actions taken by the EU, among other parties, certain Russian securities and financial instruments are currently blocked for trading and/or settlement. As described here, Danske Bank has introduced additional restrictions on Russian securities and financial instruments.




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Danske Bank’s approach

Danske Bank is following the tragic situation in Ukraine closely, and our thoughts are with all those affected by the war in Ukraine.

We support our customers with advice and ongoing expertise related to our customers’ activities and finances, and we naturally comply with the sanctions imposed by the UN, the EU and the UK, as well as US sanctions. In addition, Danske Bank has taken a number of other initiatives.
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