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August 25 decision of the Armenian Central Bank the Western Union international money transfer system is prohibited in Armenia. The CB Council decided to prohibit participation of the Armenian banks in the mentioned system and annul the contracts with it. The decision is motivated by the Armenian banks’ risk management.
In reality, it all started after Azerbaijan protested the fact, that Western Union, Money Gram and other money transfer systems are operating in the territory of Nagorno-Karabakh. In response to Azerbaijan’s demands, the Western Union and Money Gram stopped their operation in Stepanakert branches of “Artsakhbank”, “Unibank” and “Armeconombank”. Earlier Azerbaijan had also demanded the closure of the Stepanakert branch of VTB bank. It seems, that Azerbaijan is adopting a more comprehensive strategy of isolating Nagorno-Karabakh. I wonder what will be the next step? Demanding the Russia-controlled electiricy network in Armenia to stop providing electricity to Karabakh? Stopping the sun from shining on that territory? What?