Many Russian banks have suspended US dollars and euro savings accounts

According to the Russian "News" reported on the 24th local time, many Russian banks have suspended the opening of USD and euro savings accounts and restricted US dollar and euro deposits.

It is reported that as of now, many banks such as Russia's Industrial Communications Bank, Ross, and Russia United Bank have suspended USD and euro savings accounts, and some banks have suspended US dollar and euro deposit business.

The Russian central bank pointed out that it is impossible to open a foreign currency account. Since June 9, the euro and US dollar savings accounts have been unavailable. It is still unknown when recovery. A number of Russian banks said that the risk of frozen funds in Western sanctions increased, and Russian banks could not invest in US dollars and euros anywhere.

After the outbreak of the Russian and Ukraine conflict, the United States and other Western countries imposed severe economic and financial sanctions on Russia. Many major Russian banks were excluded from the payment system of the Global Bank of Financial Communications Association. The national financial system is frozen.

As the conflict continues and the sanctions against Russia, the risk of reserve assets with US dollars and euros is still increasing. Many Russian banks have to take foreign exchange transaction restrictions to resist the risk of frozen assets frozen by the Western financial system.

(Source: CCTV News Client)

【Edit: Fu Sakura】

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