Banks of Cyprus and Greece ready to support sanctions against Belarusian officials

• 1.02.2011, 9:26

This statement was made by Symeon Symeou, the Head International Banking Unit at Bank of Piraeus (Greece-Cyprus), at a meeting with journalists of Belarus, Ukraine, Russia, and Moldova.

“I don't know exactly what is going to happen with regard to the sanctions against Belarus. However, as you know, if a decision is taken at the EU level, you may object to it but when it is taken you should follow it. Thus, if a correspondent decision is taken, Cyprus will follow it. Because they [sanctions - Euroradio] will be used in all the EU countries,” Symeon Symeou said.

As Euroradio notes, this statement sounded despite the fact that rendering bank services is one of the main sources of income in the country. 17 registered banks, 25 branches, and 2 affiliates of foreign banks, as well as 359 corporate credit establishments work in Cyprus alone. All of them, Symeon Symeou says, will close their doors on the Belarusian officials pout on the EU's "black list".

However, he confessed there are no "frozen" Belarusian accounts now in their bank. Symeon Symeou clarified that if anyone sends money to a Belarusian official who is on the "black list", he or she will not receive it, because the money will be covered by the sanctions and frozen.