Banks in Moldova have halted payments through the Russian payment network Golden Crown for an indefinite period, according to a report from TASS. The pause marks another turn in the evolving relationship between Moldova and the broader Russian financial ecosystem, as local institutions reassess exposure to cross-border payment channels during a time of shifting sanctions and regulatory scrutiny.
Just days earlier, Moldova’s financial sector was operating with the same service, indicating a rapid change in policy or risk assessment across institutions. This lull in service aligns with observed caution among regional banks as they navigate sanctions regimes and realign correspondent relationships, a trend that’s drawing attention from regulators and market participants alike.
Online transfers between Russia and Moldova via Golden Crown were halted in March, yet funds could still be received at the branches of Moldindconbank, Comertbank, Fincombank, Eurocreditbank and Energbank. The partial accessibility through branch cash receipt points suggests a staggered approach to de-risking while maintaining essential payment functions for some customers and businesses in the two economies. Source: TASS.
At the end of August, further shifts appeared as several Kazakh banks suspended transfers through the same Russian system. The Bank of Freedom was among those to pause, with subsequent actions reported from Halyk Bank, Bank RBK and Eurasia Bank as the situation evolved. This sequence illustrates how regional banks respond to broader geoeconomic pressures and consider the reliability of cross-border payment rails during periods of uncertainty. Source: TASS.
Earlier, Golden Crown transfers had operated under a different participation pattern. There were reports that Altın Crown transfers had been staged through one of Georgia’s largest banks, the Bank of Georgia, before new frictions emerged. The situation underscores how interconnected payment networks can become vulnerable when sanctions, currency controls, or compliance demands tighten the operational environment for banks across multiple jurisdictions. Source: TASS.
Meanwhile, Turkish banks have reportedly tightened scrutiny on local suppliers dealing with Russia, adding another layer to the complex matrix of financial controls and risk management in the region. The tightening of due diligence and payment screening by Turkish institutions reflects a broader trend of risk aversion among banks with exposure to Russian-linked commerce and payment flows. Source: TASS.