British banks do not provide services to clients from Russia and Belarus
World
Several British banks have ceased offering services to clients from Russia and Belarus due to international sanctions imposed on these countries. This includes restrictions on transactions, financial services, and accounts for individuals and corporations from these nations. The move aligns with the broader sanctions targeting Russia’s actions, particularly the invasion of Ukraine.
For example, major banks like HSBC have significantly reduced or completely suspended their operations in Russia. HSBC, after agreeing to sell its Russian business to Expobank in 2024, made it clear that it would no longer service customers from Russia or Belarus. This decision reflects the broader financial disconnection between European institutions and entities operating in Russia, enforced by economic and political pressures from the West.
These actions are part of an ongoing effort to comply with the sanctions regimes imposed by the European Union, the United States, and other Western allies in response to Russia’s military actions. Many European banks have followed suit, severing ties with Russian and Belarusian clients to avoid the risks and penalties associated with violating these sanctions.
These actions are part of an ongoing effort to comply with the sanctions regimes imposed by the European Union, the United States, and other Western allies in response to Russia’s military actions. Many European banks have followed suit, severing ties with Russian and Belarusian clients to avoid the risks and penalties associated with violating these sanctions.
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