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Presidential decree bans foreign business at certain banks

The decree was made in pursuance to a presidential executive order from August on the application of special economic measures in finance and fuel and energy sectors in light of unfriendly acts by certain foreign states and international institutions

MOSCOW, October 26. /TASS/. Russian President Vladimir Putin has approved a list of forty-five Russian banks, where foreigners are prohibited from making transactions.

The relevant decree was posted on Wednesday. Included on the list of banks are American Express Bank, Western Union DP Vostok, Raiffeisenbank, Citibank, OTP Bank, and others. The ban is in effect until December 31, 2022. At the same time, transactions can be made with special permission of the Russian President.

The decree was made in pursuance to a presidential executive order from August on the application of special economic measures in finance and fuel and energy sectors in light of unfriendly acts by certain foreign states and international institutions.

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