The British-Hong Kong banking group HSBC Holdings published a statement on the “important notices” page of the technical support section of the official website. The Bank will no longer process payments to and from Russia. The measures also apply to Belarus.
Author:
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“Any payment processed through HSBC involving Russia or Belarus may be held for further review and may be refused or refunded at our discretion. If you plan to send or receive payments to or from Russia or Belarus, please use alternative methods,” the group says on its official website.
The group announced its departure from the Russian Federation in 2022. In February this year, the President of Russia approved the sale of HSBC’s national subsidiary to Expobank.
Therefore, the decision to suspend payments to/from the Russian Federation via personal bank cards was an expected step after the British lender withdrew from its business in the country, as reported by Reuters.
The agency’s analysts believe that this is also a consequence of new US sanctions (including those on Russian Gazprombank). The publication notes that “HSBC, like other European banks, is particularly sensitive to supervision by US authorities.”
Author:
Ekaterina Alipova
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.
