The largest bank in Cyprus will close the accounts of 4 thousand Russians. This will affect those who are not residents of EU countries. Bank of Cyprus fears the imposition of sanctions by the United States and Great Britain, which prohibited the provision of various services to Russian citizens.
Four thousand Russian clients of the Bank of Cyprus received notifications from the bank about the closure of their accounts. RBC writes about this with reference to the message from the bank.
The bank said it would close the accounts of those Russians who are not residents of EU countries. The Bank of Cyprus justified its decision by “compliance with the policy of accepting clients with an adequate appetite for risk.”
According to a bank spokesperson, the organization decided to close the accounts of Russian clients after Russia’s membership in the Financial Action Task Force (FATF) was suspended on February 24, 2022.
The fact that the largest bank in Cyprus will soon close the accounts of Russians became known for the first time on April 19. It was reported that the accounts would be closed within two months and, following the Bank of Cyprus, the accounts of Russian clients could be closed by other banks.
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