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CBA sends letter of protest to Central Bank and Sberbank of Russia [UPDATE]

13 October 2020 15:29 (UTC+04:00)
CBA sends letter of protest to Central Bank and Sberbank of Russia [UPDATE]

By Trend

The Central Bank of Azerbaijan (CBA), together with the relevant structures, within its consistent activity to ensure financial intermediation, constantly keeps in the spotlight the measures to combat illegal financial and banking operations in the occupied Azerbaijani territories, Trend reports with reference to the CBA.

“In this regard, at various periods, important measures were taken to reveal the facts to immediately stop these operations,” the bank said.

Financial organizations involved in illegal transactions mentioned in these appeals were warned that business relations of local financial organizations with organizations carrying out illegal activity in the occupied Azerbaijani territories will be terminated.

As a result of the taken measures, these illegal operations were prevented.

These measures of struggle are of particular relevance at the moment when counter-offensive operations are being carried out against the large-scale provocations of the Armenian occupation forces by the National Army of Azerbaijan and the Azerbaijani lands are liberated from the occupiers.

During confident victories of the valiant Azerbaijani army over the Armenian armed forces and the depletion of the resources of the Armenian armed forces, Armenia is trying to collect funds for illegal activity from different countries.

During the monitoring carried out by the Central Bank of Azerbaijan, the fact of the participation of Sberbank operating in the Russian Federation in the process of raising funds for the so-called “Nagorno-Karabakh Republic” ("NKR"), created in the occupied Nagorno-Karabakh region of Azerbaijan, not recognized and not accepted by the world community, was revealed.

It was revealed that this is carried out through correspondent accounts in Sberbank in different currencies.

In this regard, the Central Bank of Azerbaijan immediately sent a letter with a sharp protest to both the Central Bank of Russia and Sberbank.

In the letter, guided by the norms of international law, taking into account the importance of the established cooperation relations between the two countries and institutions, a firm protest was expressed against the participation of Sberbank in the process of raising funds to finance the invaders.

Given the negative impact of transactions on accounts opened in Sberbank on the processes taking place in the occupied territories, the Central Bank of Azerbaijan assessed this fact as contrary to the interests of Azerbaijan and demanded the immediate termination of the participation of Sberbank in this process, as well as other financial institutions operating in the Russian Federation.

“The participation in the process of rendering assistance to the illegal regime on the territory of a third party amid the emerging positive bilateral cooperation will deal a big blow to the image of such an influential bank as Sberbank,” the letter said.

Thus, the implementation of any economic activity in the occupied Azerbaijani territories, not coordinated with the Azerbaijani government, contradicts the norms of international law and the Azerbaijani legislation.

Having suffered defeat during the battles in the occupied Azerbaijani territories, Armenia commits other provocations throughout the country.

So, on behalf of the country's banks, fake messages and emails are sent with the aim of creating confusion among the customers of local banks.

However, the Azerbaijani relevant structures, including the financial and banking system, are taking important measures to prevent these provocations.

The Central Bank of Azerbaijan concluded that in the future, within its powers, adequate measures will be taken to ensure healthy financial intermediation, as well as to prevent any illegal activity in the occupied territories.

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