MOSCOW, August 15 (RAPSI) – Russia’s SMP Bank, now facing Western sanctions, has closed its correspondent accounts at JPMorgan Chase, RIA Novosti reported Friday.

According to SMP Bank’s first-quarter report, the company had correspondent accounts at several banks, including Russia’s VTB Bank, VTB Bank subsidiary in Germany and JPMorgan Chase.

The latter two accounts were closed by June 30.

In the meantime, SMP Bank has opened accounts at Germany’s Commerzbank and Raiffeisen Bank International in Austria. It has also retained its VTB Bank accounts.

On April 28, US authorities included SMP Bank and its subsidiary, Investcapitalbank, controlled by Arkady Rotenberg and his brother Boris Rotenberg, on the sanctions list. The Visa and MasterCard international payment systems no longer service the credit cards of these two banks.