HONG KONG, October 16. /TASS/. Russian businessmen are facing difficulties when making banking transactions in Hong Kong due to introduced West’s sanctions, South China Morning Post newspaper said.

"A source familiar with the Hong Kong and Shanghai Banking Corporation (HSBC) confirmed the bank had sent a letter to most of its Russian clients in the city over the suspension of retail investment services because of sanctions enacted by the European Union," the newspaper wrote. At the same time, personal savings accounts or other personal banking needs are not affected, the source told the newspaper.

According to a TASS reporter, Russian nationals experience serious difficulties when attempting to open new accounts in Hong Kong, including such financial institutions as the Bank of China (Hong Kong).

"Although China and Hong Kong did not join Western sanctions against Russia, cases are present when Russian businessmen cannot transfer funds or open new accounts [via Hong Kong banks], the newspaper said, citing Russian Consul General in this special administrative region of China.