14.04.2023, 16:14
One of the largest banks in the UAE has started blocking the accounts of Russians
Source: OREANDA-NEWS
OREANDA-NEWS Emirates NBD, the second largest bank in the UAE, has begun blocking investment accounts of Russians due to the EU directive, writes Forbes.
"The bank will begin transferring the assets of Russians to separate accounts, where all payments on securities belonging to them will fall. Russians will not be able to withdraw funds from these accounts," the publication says. The publication quotes the words of the special adviser on sanctions issues of the Pen Bar Association & Kira Vinokurova's paper says that there is a global administration of the sanctions regime by the United States. In her opinion, even the UAE is forced to adapt to them. The lawyer noted that the measure by Emirates NBD is related to the introduction of blocking sanctions against some Russian banks and brokers.
The article notes that the restrictions were introduced because of the EU directive. They do not apply to residents of the EU, the European Economic Area or Switzerland, but residents of the UAE fall under them.
"The bank will begin transferring the assets of Russians to separate accounts, where all payments on securities belonging to them will fall. Russians will not be able to withdraw funds from these accounts," the publication says. The publication quotes the words of the special adviser on sanctions issues of the Pen Bar Association & Kira Vinokurova's paper says that there is a global administration of the sanctions regime by the United States. In her opinion, even the UAE is forced to adapt to them. The lawyer noted that the measure by Emirates NBD is related to the introduction of blocking sanctions against some Russian banks and brokers.
The article notes that the restrictions were introduced because of the EU directive. They do not apply to residents of the EU, the European Economic Area or Switzerland, but residents of the UAE fall under them.
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