HomeWorldUAE banks began to...

UAE banks began to block payments from Russia – media

Photo: instagram.com/dubai

The Emirates has become perhaps the main hub for the Russians to avoid Western sanctions, but they have failed here as well.

The Bank of the United Arab Emirates, which is one of the main anti-sanctions “hubs” of Russian business abroad, has sharply increased checks on payments by Russian companies. Now the money can take weeks to reach the recipient, or even get lost along the way. The Moscow Times reported this on Friday, December 13.

It is noted that this led to a new wave of American sanctions, affecting 50 banks, including the state-owned Gazprombank. The situation with payments due to the UAE, where more than 1.6 thousand Russian companies opened “subsidiaries” after the war, worsened in November, business representatives and lawyers said.

According to sources, the average payment processing time through banks in Dubai has increased from 1-3 days at the beginning of the year to two weeks, and in some cases up to 30 days. For some companies, money gets stuck and comes back, and sometimes gets lost along the way.

It is noted that most companies operating through the UAE are complaining about a significant deterioration in the situation. The new sanctions “forced banks to reconsider their interaction patterns and strengthen the verification of payments, especially through correspondent accounts.”

Russian businessmen complain that now half of payments through banks in the UAE are returned or take a long time to be transferred. In some areas, UAE credit institutions have completely stopped conducting transactions: these are, in particular, electronics, servers, IT services, and industrial equipment. Businessmen in the Russian Federation believe that if this situation continues, they will soon lose the opportunity to make payments through the UAE.

Business representatives noted that for Russian consumers, what is happening may result in the loss of goods from sale. If the payment problems are not resolved, there may be a shortage of imported goods in December.

It was previously reported that Google Play will block payments in Russian-related applications.

New Correspondent.net on Telegram and WhatsApp. Subscribe to our channels Athletistic and WhatsApp

Source: korrespondent

- A word from our sponsors -

Most Popular

LEAVE A REPLY

Please enter your comment!
Please enter your name here

More from Author

- A word from our sponsors -

Read Now

The President signed the Law on 50% of the Motagrass for Veterans

The President of Ukraine signed a law that reduces the cost of a motorcycle by 50% for veterans and persons with disabilities as a result of the war (No. 4369-IX). .in_text_content_22 {width: 300px; Height: 600px; } @Media (min-width: 600px) {.in_text_content_22 {width: 580px; Height: 400px;...

GBI was struck by anger, the requirement of short -term reconciliations of SOC without Boytsov’s order

Employees of the State Bureau of Investigations exposed military personnel in the Nikolaev area, who demanded that the military left some of the military in exchange for returning to the service. .in_text_content_22 {width: 300px; Height: 600px; } @Media (min-width: 600px) {.in_text_content_22 {width: 580px; Height:...

In Priluki, the Cisland arrived at the post of drone in his house, where he was killed

The rescuer arrived in Pryluky to eliminate the effects of a drone that fell into his house, where his family was killed. .in_text_content_22 {width: 300px; Height: 600px; } @Media (min-width: 600px) {.in_text_content_22 {width: 580px; Height: 400px; }} .Adsbygoogle {Touch-Action: Manipulation; } ...