Foreign nationals from countries that Russian authorities classify as “unfriendly” have begun facing freezes on accounts and deposits in Russian banks after June amendments to a decree signed by Vladimir Putin. RBC reported this, citing clients of T-Bank, Sberbank, and VTB.
According to the outlet, the restrictions affected non-resident foreigners, including citizens of France, Norway, and other states on that list. In messages sent by T-Bank to clients, the bank said the accounts were blocked “as part of process adjustments” to comply with the presidential decree.
Those affected were not limited to ordinary customers. Among them were foreigners who had moved to Russia as highly qualified specialists under the so-called “talent visa”, as well as people whom the authorities describe as “sharing traditional Russian values”.
The restrictions also affected, RBC wrote, ethnic Russians preparing documents to relocate to Russia from “unfriendly” countries. Even a valid residence permit in Russia does not always guarantee protection from a blocked deposit or account, according to the report.
The basis for the measures was a set of amendments signed by Putin on June 1. They extended the decree on the “temporary procedure for fulfilling obligations” to creditors from “unfriendly” countries so that it also covered bank deposits.
Previously, the decree mainly applied to payments on loans, borrowings, and securities. After the amendments, RBC reported, its scope was expanded to include bank funds held by foreign clients as well.