🏦 Swiss banks🇨🇭 are starting to close accounts of Russians🇷🇺 - even if they have dual citizenship

🏦 Swiss banks🇨🇭 are starting to close accounts of Russians🇷🇺 - even if they have dual citizenship

Customers of UBS and Credit Suisse have reported similar incidents. Currently, banking institutions are worried even about a single fund transfer to Russia.

➡️ The Russian passport becomes a "black mark" in Switzerland, as banks fear secondary sanctions from the United States🇺🇸.

➡️ Banks consider clients with Russian citizenship as high risk and may impose special service conditions for them, such as high fees.

➡️ In the years 2022-2023, Swiss banks closed the accounts of Russian clients who had less than 1 million USD, raising the entry threshold for new clients to 5-10 million USD. After this, wealthy Russians began to worry about obtaining local permanent residence... However, even this does not help today. Due to compliance reasons, Swiss banks are closing accounts even for Russians who have dual nationality.

➡️ The main focus is on whether the client has any income in Russia and whether they pay taxes there.

➡️ Note to the hostess: the Swiss acknowledge that throughout the 20th century they have not turned down anyone's money, nor the gold mined at very low prices from South Africa.

#news #Europe #Russia