Russia's Rosbank says decision to block correspondent bank won't have negative impact

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Russia's Rosbank says decision to block correspondent bank won't have negative impact

MOSCOW Reuters -- Russian lender Rosbank believes that a decision by European clearing house Clearstream to block its correspondent account will not have a significant negative impact on its operations, it said in a statement to a Russian media outlet on Saturday.

Clearstream said on Friday UK sanctions on Russian majority owner Vladimir Potanin, whose Interros Capital clinched a deal in April to buy the lender from French bank Societete Generale, had forced it into a decision.

Clearstream Banking's cash correspondent bank Rosbank is no longer available to receive income proceeds that may be issued outside Russia and denominated in roubles, Clearstream said.

The lender said international depositories had told clients they could no longer use this account and had asked Rosbank to block payments in a statement carried by Russian outlet Frank Media.

Clearstream's decision won't have a negative impact on Rosbank's operations, it said.

Clearstream said that the transactions involving Rosbank and its subsidiaries had been authorised to be shut down by July 30, allowing customers to move rouble funds outside Clearstream Banking.

The situation may change in the future, due to the uncertain context, according to Clearstream.