One of Kazakhstan’s largest banks, Citibank, has announced the end of operations with ruble accounts and conversion to Russian currency, Frank Media reports.
Author:
https://rb.ru/author/ntihonov/
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Clients were informed that they were advised to close their ruble accounts by September 24 and transfer the relevant settlements to other banks.
“From September 24, the acceptance of new currency agreements, as well as the maintenance of existing ones, will be suspended if the currency of the agreement is Russian rubles or if the participant in the currency agreement is located in Russia,” a representative of the bank said.
The bank will also not provide quotes for currency pairs with the ruble. This will affect conversion transactions, payments and transfers that require conversion from or to rubles, including crediting of incoming profits in foreign currency.
During the transition period, until September 24, the bank set a maximum daily limit for conversions with Russian currency equivalent to no more than $1 million per client.
As for Russian Citibank, the support service confirmed to journalists that they continue to carry out cross-border transfers in Russian rubles for existing clients, but new clients are not being served due to the closure of the business.
Citibank announced in July that it would stop operating debit cards as of September 20. After September 25, bank customers will not be able to make payments or transfers. In the fall of 2022, Citibank’s parent company decided to close its corporate business in Russia.
Author:
Nikolai Tikhonov
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
