Sanctions

International sanctions

Considering the fact that bank accounts maintained by Bank Handlowy w Warszawie S.A. (the “Bank”) may not be used for the purpose of processing transactions subject to international sanctions, including those imposed by the United Nations, the European Union and the United States of America. Information concerning the nature and scope of the applicable sanctions is presented below.

    • Sanctions covered by the Bank’s documentation include:

      1. Sanctions imposed by the European Union ("EU"), which form part of the EU regulations additionally implement to the EU legal framework - sanctions appearing under the aegis of the United Nations ("UN") - on a regular basis. A link to sanctions list and sanction programs of the EU along with a list of effective Council Regulations can be found below. Restrictive measures imposed by the EU may target: countries (governments), non-state entities and individuals. The following types of sanctions are applied by the EU: arms embargoes (comprising a ban on financing and providing financial support), economic and financial sanctions (also a ban on provision of specific services, such as financial services) and a ban on financial transfers. Economic and financial sanctions have to be complied with by all individuals and legal persons operating within the territory of the EU as well as EU entities operating abroad; restrictions on admission; anti-terrorist sanctions (the EU applies sanctions against entities suspected of terrorist activity executing of Resolution No. 1267 and 1373 of the United Nations Security Council).

      2. UN sanctions imposed by the UN, also through resolutions of the United Nations Security Council, which, pursuant to Article 25 of the United Nations Charter (ratified by Poland) have to be enforced by member states and are subject to transposition to the legal framework of the EU by the competent authorities of the European Community through amendments to regulations. A link to the list of effective Council Regulations can be found below.

      3. Sanctions of the United States of America (the “USA”) are, as a rule, imposed by the Department of the Treasury (e.g. OFAC) and the Department of State. A link to the list of sanctions and sanction programs introduced by OFAC can be found below. The USA sanctions are applied in whole whenever a US Person is a party to the transaction. U.S person is defined as:

      • a USA citizen;
      • a USA resident;
      • a legal person established under the laws of the USA, along with its foreign branches;
      • a USA visitor

      In certain situations, the USA sanctions are applied in a limited scope, when:

      1) the transaction is processed and settled through the USA or the correspondent bank has the status of a US Person;
      2) a Citigroup entity with the status of a US Person participates in the transaction or activity covered by the sanction program;
      3) the Bank’s employee with the status of a US Person participates in the transaction or activity subject to sanctions;
      4) the transaction will violate sanctions program imposed on Cuba and Iran, regardless of the amount and currency of the transaction.

      Referring item 4) above, if it follows from the transaction data and its nature that the transaction is linked to a Cuban or Iranian person or entity, whether directly or indirectly, it will be examined in terms of its compliance with OFAC regulations.

  • Examples

    Cuba


    If it follows from the transfer data that a corporate customer is a payer or beneficiary of a payment for a tourist trip to Cuba, the transaction will not be processed and the funds will be transferred back to the payer. Such payment is indirectly related to an entity located in Cuba (hotel, cruise ship or another Cuban entity providing services related to a specific trip).

    If the transfer concerns payment for a ticket to Cuba, sales of goods originating from Cuba (such as Cuban cigars or sugar) and is made to a Cuban national residing in Cuba, the transaction will not be processed and the funds will be transferred back to the payer.

    Iran


    When a government institution, an entity controlled by the Iranian government or another Iranian entity or person is a party to the transaction, the transaction will be analyzed whether it is placed within the acceptable turnover, comprising

    • expenses related to the payment for travel to Iran (tickets, visa, accommodation, meals);
    • export/import of information materials;
    • low-value items purchased in Iran;
    • non-commercial settlements between family members;
    • fees for delivery of humanitarian aid.

    Other transactions linked to Iran, whether directly or indirectly, may be subject to limitations.

  • Use of cards

    It is not permissible to make payments with Martercard or Visa cards issued by Bank Handlowy w Warszawie S.A. including the use ATMs located within the territory of Cuba and Iran.

    Regulations adopted by the European Union, the United Nations and the United States of America may impose the obligation to freeze funds if an entity included in a sanction list is a party to the transaction.
    The aforementioned lists are available publicly on the following websites:
    1. European Union sanction lists and programs are available at:
    http://ec.europa.eu/external_relations/cfsp/sanctions/consol-list_en.htm
    http://eur-lex.europa.eu/pl/index.htm

    2. Sanction lists and programs introduced by OFAC – Office of Foreign Assets Control
    http://www.treasury.gov/resource-center/sanctions/Pages/default.aspx

    3. UN sanction lists are available at:
    http://www.un.org/sc/committees/1267/consolist.shtml

  • Detailed regulations adopted by the European Council in relation to particular countries

    Afghanistan

    Council Regulation (EU) No 753/2011 of 1 August 2011 concerning restrictive measures directed against certain individuals, groups, undertakings and entities in view of the situation in Afghanistan

    Belarus

    Council Regulation (EC) No 765/2006 of 18 May 2006 concerning restrictive measures against President Lukashenko and certain officials of Belarus

    Bosnia and Herzegovina

    Council Decision 2011/173/CFSP of 21 March 2011 concerning restrictive measures in view of the situation in Bosnia and Herzegovina

    Burundi

    Council Regulation (EU) 2015/1755 of 1 October 2015 concerning restrictive measures in view of the situation in Burundi

    Montenegro

    Council Regulation (EC) No 1733/94 of 11 July 1994 prohibiting the satisfying of claims with regard to contracts and transactions the performance of which was affected by the United Nations Security Council Resolution No 757 (1992) and related resolutions

    Chiny

    Presidency Conclusions European Council Madrid (26-27.06.1989)

    Democratic Republic of the Congo

    Council Regulation (EC) No 1183/2005 of 18 July 2005 imposing certain specific restrictive measures directed against persons acting in violation of the arms embargo with regard to the Democratic Republic of the Congo

    Guatemala

    Council Regulation (EU) 2024/287 of 12 January 2024 concerning restrictive measures in view of the situation in Guatemala

    Guinea

    Council Regulation (EU) No 1284/2009 of 22 December 2009 imposing certain specific restrictive measures in respect of the Republic of Guinea

    Guinea-Bissau

    Council Regulation (EU) No 377/2012 of 3 May 2012 concerning restrictive measures directed against certain persons, entities and bodies threatening the peace, security or stability of the Republic of Guinea-Bissau

    Haiti

    Council Regulation (EC) No 1264/94 of 30 May 1994 prohibiting the satisfying of claims by the Haitian authorities with regard to contracts and transactions the performance of which was affected by the measures imposed by or pursuant to United Nations Security Council resolutions 917 (1994), 841 (1993), 873 (1993) and 875 (1993)
    Council Regulation (EU) 2022/2309 of 25 November 2022 concerning restrictive measures in view of the situation in Haiti

    Iraq

    Council Regulation (EC) No 1210/2003 of 7 July 2003 concerning certain specific restrictions on economic and financial relations with Iraq and repealing Regulation (EC) No 2465/96 Council Regulation (EEC) No 3541/92 of 7 December 1992 prohibiting the satisfying of Iraqi claims with regard to contracts and transactions, the performance of which was affected by United Nations Security Council Resolution 661 (1990) and related resolutions
    Council Common Position 2003/495/CFSP of 7 July 2003 on Iraq and repealing Common Positions 96/741/CFSP and 2002/599/CFSP
    Resolution 1546 (2004) / adopted by the Security Council at its 4987th meeting, on 8 June 2004

    Iran

    Council Regulation (EU) No 359/2011 of 12 April 2011 concerning restrictive measures directed against certain persons, entities and bodies in view of the situation in Iran
    Council Regulation (EU) 2023/1529 of 20 July 2023 concerning restrictive measures in view of Iran’s military support of Russia’s war of aggression against Ukraine
    Council Regulation (EU) No 267/2012 of 23 March 2012 concerning restrictive measures against Iran and repealing Regulation (EU) No 961/2010

    Yemen

    Council Regulation (EU) No 1352/2014 of 18 December 2014 concerning restrictive measures in view of the situation in Yemen

    Democratic People's Republic of Korea

    Council Regulation (EU) 2017/1509 of 30 August 2017 concerning restrictive measures against the Democratic People's Republic of Korea and repealing Regulation (EC) No 329/2007

    Lebanon

    Council Regulation (EU) 2021/1275 of 30 July 2021 concerning restrictive measures in view of the situation in Lebanon Council Regulation (EC) No 1412/2006 of 25 September 2006 concerning certain restrictive measures in respect of Lebanon
    Council Common Position 2006/625/CFSP of 15 September 2006 concerning a prohibition on the sale or supply of arms and related materiel and on the provision of related services to entities or individuals in Lebanon in accordance with UNSC Resolution 1701 (2006)
    Council Common Position 2005/888/CFSP of 12 December 2005 concerning specific restrictive measures against certain persons suspected of involvement in the assassination of former Lebanese Prime Minister Rafiq Hariri
    Council Regulation (EC) No 305/2006 of 21 February 2006 imposing specific restrictive measures against certain persons suspected of involvement in the assassination of former Lebanese Prime Minister Rafiq Hariri

    Libya

    Council Regulation (EC) No 3275/93 of 29 November 1993 prohibiting the satisfying of claims with regard to contracts and transactions the performance of which was affected by the United Nations Security Council Resolution 883 (1993) and related resolutions
    Council Common Position 2004/698/CFSP of 14 October 2004 concerning the lifting of restrictive measures against Libya
    Council Regulation (EU) 2016/44 of 18 January 2016 concerning restrictive measures in view of the situation in Libya and repealing Regulation (EU) No 204/2011

    Mali

    Council Regulation (EU) 2017/1770 of 28 September 2017 concerning restrictive measures in view of the situation in Mali

    Moldova

    Council Regulation (EU) 2023/888 of 28 April 2023 concerning restrictive measures in view of actions destabilising the Republic of Moldova

    Myanmar

    Council Decision 2013/184/CFSP of 22 April 2013 concerning restrictive measures against Myanmar/Burma and repealing Decision 2010/232/CFSP

    Niger

    Council Regulation (EU) 2023/2406 of 23 October 2023 concerning restrictive measures in view of the situation in Niger

    Nicaragua

    Council Regulation (EU) 2019/1716 of 14 October 2019 concerning restrictive measures in view of the situation in Nicaragua

    Central African Republic

    Council Regulation (EU) No 224/2014 of 10 March 2014 concerning restrictive measures in view of the situation in the Central African Republic

    Tunisia

    Council Regulation (EU) No 101/2011 of 4 February 2011 concerning restrictive measures directed against certain persons, entities and bodies in view of the situation in Tunisia

    Turkey

    Council Regulation (EU) 2019/1890 of 11 November 2019 concerning restrictive measures in view of Turkey’s unauthorised drilling activities in the Eastern Mediterranean

    Ukraine

    Council Regulation (EU) No 692/2014 of 23 June 2014 concerning restrictions on the import into the Union of goods originating in Crimea or Sevastopol, in response to the illegal annexation of Crimea and Sevastopol
    Council Regulation (EU) No 269/2014 of 17 March 2014 concerning restrictive measures in respect of actions undermining or threatening the territorial integrity, sovereignty and independence of Ukraine
    Council Regulation (EU) No 833/2014 of 31 July 2014 concerning restrictive measures in view of Russia's actions destabilising the situation in Ukraine
    Council Regulation (EU) No 208/2014 of 5 March 2014 concerning restrictive measures directed against certain persons, entities and bodies in view of the situation in Ukraine
    Council Regulation (EU) 2022/263 of 23 February 2022 concerning restrictive measures in response to the recognition of the non-government controlled areas of the Donetsk and Luhansk oblasts of Ukraine and the ordering of Russian armed forces into those areas

    Russia

    Council Regulation (EU) 2024/1485 of 27 May 2024 concerning restrictive measures in view of the situation in Russia
    Council Regulation (EU) 2024/2642 of 8 October 2024 concerning restrictive measures in view of Russia’s destabilizing activities

    Serbia

    Council Regulation (EC) No 1733/94 of 11 July 1994 prohibiting the satisfying of claims with regard to contracts and transactions the performance of which was affected by the United Nations Security Council Resolution No 757 (1992) and related resolutions

    Sudan

    Council Regulation (EU) 2023/2147 of 9 October 2023 concerning restrictive measures in view of activities undermining the stability and political transition of Sudan
    Council Regulation (EU) No 747/2014 of 10 July 2014 concerning restrictive measures in view of the situation in Sudan and repealing Regulations (EC) No 131/2004 and (EC) No 1184/2005

    South Sudan

    Council Regulation (EU) 2015/735 of 7 May 2015 concerning restrictive measures in respect of the situation in South Sudan, and repealing Regulation (EU) No 748/2014

    Somalia

    Council Regulation (EU) No 356/2010 of 26 April 2010 imposing certain specific restrictive measures directed against certain natural or legal persons, entities or bodies, in view of the situation in Somalia
    Council Regulation (EC) No 147/2003 of 27 January 2003 concerning certain restrictive measures in respect of Somalia

    Syria

    Council Regulation (EU) No 36/2012 of 18 January 2012 concerning restrictive measures in view of the situation in Syria and repealing Regulation (EU) No 442/2011
    Council Common Position 2005/888/CFSP of 12 December 2005 concerning specific restrictive measures against certain persons suspected of involvement in the assassination of former Lebanese Prime Minister Rafiq Hariri
    Council Regulation (EC) No 305/2006 of 21 February 2006 imposing specific restrictive measures against certain persons suspected of involvement in the assassination of former Lebanese Prime Minister Rafiq Hariri

    USA

    96/668/CFSP: Joint Action of 22 November 1996 adopted by the Council on the basis of Articles J.3 and K.3 of the Treaty on European Union concerning measures protecting against the effects of the extra-territorial application of legislation adopted by a third country, and actions based thereon or resulting therefrom
    Council Regulation (EC) No 2271/96 of 22 November 1996 protecting against the effects of the extra-territorial application of legislation adopted by a third country, and actions based thereon or resulting therefrom
    Commission Implementing Regulation (EU) 2018/1101of 3 August 2018 laying down the criteria for the application of the second paragraph of Article 5 of Council Regulation (EC) No 2271/96 protecting against the effects of the extra-territorial application of legislation adopted by a third country, and actions based thereon or resulting therefrom

    Venezuela

    Council Regulation (EU) 2017/2063 of 13 November 2017 concerning restrictive measures in view of the situation in Venezuela

    Zimbabwe

    Council Regulation (EC) No 314/2004 of 19 February 2004 concerning certain restrictive measures in respect of Zimbabwe


    Detailed information concerning sanction programs adopted in the United States of America by OFAC (Office of Foreign Assets Control) is available at http://www.treasury.gov/resource-center/sanctions/Pages/default.aspx and applies mainly to:

    • Balkans-Related Sanctions
    • Belarus Sanctions
    • Burma Sanctions
    • Central African Republic
    • Cote d'Ivoire (Ivory Coast)-Related Sanctions
    • Counter Narcotics Trafficking Sanctions
    • Counter Terrorism Sanctions
    • Cuba Sanctions
    • Democratic Republic of the Congo-Related Sanctions
    • Iran Sanctions
    • Iraq-Related Sanctions
    • Lebanon-Related Sanctions
    • Former Liberian Regime of Charles Taylor Sanctions
    • Libya Sanctions
    • Magnitsky Sanctions
    • Non-Proliferation Sanctions
    • North Korea Sanctions
    • Rough Diamond Trade Controls
    • Ukraine/Russia and Crimea territory
    • Somalia Sanctions
    • Sudan Sanctions
    • Syria Sanctions
    • Transnational Criminal Organizations
    • Yemen-Related Sanctions
    • Zimbabwe Sanctions