⛔️ HSBC🇬🇧 Stops Processing Payments for Retail Customers in Russia🇷🇺 and Belarus🥔

⛔️ HSBC🇬🇧 Stops Processing Payments for Retail Customers in Russia🇷🇺 and Belarus🥔

Payments related to these countries may now face additional reviews or be rejected outright.

▶️ According to Reuters, HSBC is one of the European banks "*particularly sensitive*" to scrutiny by U.S. authorities. For instance, the bank has paid over $2 billion in fines for deficiencies in "*money-laundering controls, particularly in its Mexican subsidiary.*"

▶️ The future remains uncertain: With Trump's victory in the U.S. presidential elections, it is expected that, upon taking office in January 2025, he may review or even consider lifting sanctions, given his previous positions on Ukraine and international policy matters.

▶️ Notable fact: HSBC exited the Russian market after protracted negotiations, ultimately selling its business to Expobank in May 2024. This decision resulted in an estimated loss of $300 million, according to earlier reports.

#news #Russia #geopolitics #Europe #sanctions

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