INSUBCONTINENT EXCLUSIVE:
of incoming transfers in U.S
dollars due to changing market conditions
charged will be $1,000, up to a maximum of $10,000
The new rules will come into force on Sept
1, the bank said, and will apply to incoming transfers from other banks.A combination of Western sanctions and Russian countermeasures have
country's February 2022 offensive on Ukraine
In addition, Moscow has imposed strict controls on the use of foreign currency, restricting cash withdrawals in dollars and euros to those
who held open accounts before the start of the war and putting a $10,000 limit on the amount of hard currency that can be physically taken
sustain the value of the Russian ruble
The currency slid below 100 against the U.S
It specialized in servicing European companies, their foreign workers and other high-end international clients, but had started aggressively
That performance continued through the war, with the lender reporting 301 million euros in earnings from Russia in the first quarter of 2023
offloaded its operations and has been accused by campaigners of only paying lip service to its intention to quit the market
