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The Central Bank of the Russian Federation recommended that banks pay increased attention to customer transactions that can be carried out to circumvent special economic measures adopted by decrees of Russian President Vladimir Putin, the government and the Central Bank after the introduction of new sanctions against Russia due to its military operation in Ukraine.
In addition, the regulator is asking banks to monitor unusual purchases of goods that may be made for their resale. If such transactions are identified, banks will be able to block them, RBC reports.
At the same time, the representative of the Central Bank clarified to the agency that the measures applied by financial organizations do not affect the interests of bona fide clients.
Recall that on February 21, 2022, Russian President Vladimir Putin signed decrees recognizing the independence of the self-proclaimed Donetsk and Luhansk People’s Republics (DPR and LPR), and on February 24 he made an emergency appeal to the Russians and announced a special military operation in Donbass. In his speech, he stated that “circumstances require decisive action from Russia” and stressed that “Russia will not allow Ukraine to have nuclear weapons.”
In response to Russia’s actions, Western countries (USA, Canada, European Union, Great Britain, Japan) announced new, tougher sanctions against the Russian Federation, including financial and economic ones.
Thus, in particular, Russian banks fell under the sanctions, including Sberbank, VTB, Novikombank, FC Otkritie and Sovcombank, and for a number of state-owned companies it was difficult to attract foreign capital.
Later, the EU countries and the United States agreed to disconnect Russian banks that fell under sanctions from the international system of interbank transactions and information exchange SWIFT. In addition, it was decided to freeze the assets of the Bank of Russia, which will create difficulties for its use of international reserves. EU countries also pledged to take steps to limit the sale of citizenship — the so-called “golden passports” that allow wealthy Russians connected to the Russian government to become citizens of EU states and access their financial systems. In addition, the European Union, the United States, Canada and a number of other countries have closed the sky for Russian aircraft.
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Source: Rosbalt
Tristin is an accomplished author and journalist, known for his in-depth and engaging writing on sports. He currently works as a writer at 247 News Agency, where he has established himself as a respected voice in the sports industry.
