Not only in aviation do companies notice the consequences of the sanctions. Banks are also affected. Financial sanctions have been announced, designed to cut off Russian banks from the capital markets, and the provision of trading services in Russian state-owned companies’ shares is also banned for EU parties. “For banks, this means: finding out when exactly there is a question of services,” says a spokesperson for the Dutch Banking Association (NVB).
Banks will also have to deal with the export bans, says the trade association. “You’re also not allowed to assist in the buying and selling of these kinds of goods, so banks need to make sure that such transactions don’t go through their bank accounts.”
According to the NVB, it is important for banks to clarify which products fall under the sanction ban. “We need the government for that.”
Support for sanctions
The Netherlands Enterprise Agency is currently mapping out the impact of the sanctions and supplementing the website about applicable sanctions. From Monday morning, entrepreneurs can ask questions there, says a spokesperson.
Employers’ organization VNO-NCW has had meetings with members in recent days. Now that the sanctions have been announced, there is a new session on Monday.
President Ingrid Thijssen told the NOS yesterday that there is a lot of support from the business community for the sanctions. “We must not forget: Mr. Putin started this war. It is on the border of Europe, and we really have to stop it.”
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