The total amount was nearly EUR 5 million 9,200 retirees will receive their money worth EUR 4.1 million under the Russo-Latvian treaty. The relevant funds were transmitted on November 13. The money owed under the treaty between Russia and Estonia, worth EUR 801,100, were remitted today to be paid to 3,900 retirees. Remember that pension payments to the above-mentioned countries resumed this past August; before that, they were being blocked by foreign banks due to sanctions.
As per the rules in force, Social Fund makes quarterly payments to recipients in Latvia and Estonia. The funds are transmitted to retirees' personal accounts in foreign banks through foreign pension authorities. The consent of the foreign party is required to effect the payment.
In August, competent authorities in Estonia and Latvia consented to remittance of scheduled payments for Q3 of the current year and the blocked Q1 and Q2 transfers.
Note that Russia fulfills its obligations to foreign payment recipients in full. However, sanctions initiated by unfriendly countries create obstacles for payments to foreign recipients.