This way the European Unions decision to impose targeted economic sanctions for Belarus will be implemented, the Association of Lithuanian Banks (LBA) says.
Bank clients are warned that financial institutions might ask to provide additional documents and explanations before payments to restriction-related companies are made, thus, they need to be prepared for the process to take longer.
"We hope clients will be understanding and cooperate with their financial services providers and will pre-consider their existing commitments and business plans related to payments to Belarusian businesses," Eivile Cipkute, the LBA president, said in a statement.
In her words, credit institutions will need to expand their payment verification processes. Therefore, they will take longer.