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Deadline for EU citizens and EU companies to close the accounts in sanctioned Russian banks – August 26, 2023

Legislation Changes, June 2023

PJSC Rosbank, JSC Tinkoff Bank and JSC Alfa-Bank were on the low sanctions list concluded by the Union in relation to the Russian Federation. The 10th package of EU sanctions provides for freezing the assets of these banks in the EU and disconnecting them from the SWIFT system, and also imposes an obligation on EU resident individuals and legal entities to close accounts in data banks no later than August 26, 2023.


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