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Russia’s SMP Bank stops operations on JP Morgan accounts

August 15, 2014, 12:58 UTC+3 MOSCOW
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MOSCOW, August 15. /ITAR-TASS/. SMP Bank, belonging to Russia’s Arkady and Boris Rotenberg, which was blacklisted by the US has stopped operations on correspondent accounts with JP Morgan Chase but has not closed the accounts, a representative of SMP Bank told PRIME Friday.

“These accounts exist but we make no operations on them,” a representative said.

SMP Bank also stopped operations on accounts with Germany’s VTB Bank but it opened euro-denominated accounts with Raiffeisen Bank International and Commerzbank.

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