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Swiss bank freezes Russian accounts of $5 billion due to U.S. sanctions

Source : 112 Ukraine

The bank doesn’t reveal the owners’ name of the frozen accounts
21:23, 22 August 2018

Open source

Swiss bank Credit Suisse, one of the largest in the State has frozen the accounts of $5 billion associated with Russia due to the USA sanctions. Reuters report 

‘Credit Suisse works with international regulators wherever it does business to ensure compliance with sanctions, including compliance with sanctions involving Russia,’ the Spokesperson of the bank claimed. 

Related: UkrGasBydobuvannya states on arrest of company's accounts

The bank doesn’t reveal the owners’ name of the frozen accounts  

According to the Central Bank of Russia, $6.2 billion was transferred to the Swiss banks for the last year, which makes 14 percent of all amount of money withdrawn from Russia. 

Related: Manafort case: Accountant confessed to falsification of financial documents for reducing taxes

The latest round of sanctions was announced in April by U.S. Treasury Secretary Steven Mnuchin to penalize Russia for its annexation of Crimea, involvement in the war in Syria and “attempting to subvert Western democracies”. 

Related: Russia could freeze accounts of hundreds of Ukrainian companies

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