Translartion. Region: Russians Fedetion –
Sours: Mainfin Bank –
Why does UniCredit Bank limit transfers in dollars?
Suspension of outgoing transfers from Russian clients UniCredit Bank will happen on April 18 – the decision, as stated by the credit institution itself, was made “for reasons beyond the bank’s control.” At the same time, UniCredit has been winding down its business in Russia for several years now – against the backdrop of the start of the SVO and the sanctions imposed on the financial sector, the Italian group has repeatedly announced plans to abandon business in the Russian Federation.
True, the bank will not limit all dollar transactions now. Transfers will still be available in banks, located in the EU, Australia, USA, Canada, Turkey, UAE and a number of Asian countries. Such a selective approach is due to the absence of problems on the side of the recipient banks.
What other measures has UniCredit Bank taken to curtail its business in Russia?
The UniCredit Group is systematically winding down its operations on Russian territory – among the previously adopted restrictions are:
regular closure of offices and branches in the country’s cities; introduction of a 5% commission for currency transfers; suspension of transactions in euros for individuals; setting a limit on one transaction – no less than 10 thousand euros or dollars, if the amount is less, prior approval of the transaction is required.
“UniCredit Bank intends to sell its business in Russia, but it has not yet been possible to reach an agreement and conclude a deal, including due to the need to coordinate the sale with the Russian authorities,” the expert noted.
The bank plans to completely wind down its operations by 2027 – the reduction of assets is proceeding at an accelerated pace. The volume of retail business has already been reduced by 50%, the goal has been achieved a year ahead of schedule. However, experts are confident that the final decision to leave Russia will be made taking into account the real situation in the industry and existing geopolitical risks.
12:00 04/15/2025
Source:
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https://mainfin.ru/novosti/uhod-iz-rossii-neizbezen-unikredit-bank-ogranicivaet-perevody-ese-iv-dollarah