Cyprus Bank Hellenic, following Bank of Cyprus, began to close accounts of Russian citizens, as well as their operating companies. This is reported by Frank Media with a link to the Main Partner Trust company, which provides legal and consulting services in Cyprus.
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According to Main Partner Trust, we are talking about Russians living in Cyprus.
“This is not about tax residents of the Russian Federation (such accounts were closed last year), and about Russian citizens with Cypriot documents living in Cyprus,” the company notes. The bank does not specify the reasons for closing accounts in the letters.
Hundreds of Russians have already received such letters, Main Partner Trust reported.
In its report for the three quarters of 2023, Hellenic Bank noted that it intends comply with the imposed sanctions against the Russian Federation.
“Customer monitoring has also intensified, transactions are strictly monitored and verified accordingly,” says the report of the Cypriot bank.
Remember
The Ministry of Finance wrote that in April 2023, the largest bank in Cyprus, Bank Of Cyprus, sent messages to Russian clients that their accounts would be closed.
In January 2024, Bank of Cyprus closed its representative offices in Moscow and St. Petersburg.