UAE banks closing Russian accounts – media ...News

Lenders are wary of secondary Western sanctions for dealing with Moscow, sources told the news outlet Vedomosti Several large banks in the United Arab Emirates have begun limiting transactions with Russia and closing the accounts of Russian companies and individuals due to the risk of secondary Western sanctions, the news outlet Vedomosti reported on Monday, citing businessmen working in the UAE. The sources, whose identities are not disclosed in the article, told Vedomosti that in September first-tier UAE banks, such as First Abu Dhabi Bank, Emirates NBD, and Abu Dhabi Commercial Bank, largely purged their ties t

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