New Russian banks on UK sanctions list

Legal Digest News
The UK has imposed sanctions against 86 Russian citizens and companies, including five Russian banks.

The Dom.RF Bank was included in the sanctions list, acting under the authority of the Government of the Russian Federation, and Metallinvestbank, which supports industrial exports of the Russian Federation.

Also, the following Russian banks are under UK sanctions:

  • Tinkoff Bank;
  • Rosbank;
  • All-Russian Regions Development Bank.

Any settlements in Russia using these banks carry the risk of violating sanctions restrictions. Foreign companies operating in Russia should carefully monitor the new sanctions restrictions in order to avoid negative consequences.

In the matters associated with the opening bank accounts and compliance with sanctions legislation in the Russian Federation, please contact Acsour experts.