The bank said in a statement that the Russian bank’s business will be liquidated “under the supervision of the Central Bank within a period not exceeding six months from the date of the decision and closure of the branch.”
He added that the decision came “after examining the available options regarding the status of the new MTS Bank, and taking into account the risks of penalties associated with the bank after its classification.”
He explained that “during the business liquidation period, the branch will be prevented from opening new accounts and conducting transactions other than those related to the liquidation of previous obligations, and the bank’s use of the Central Bank’s payment systems will be limited to this purpose only.”
And the United States announced a new package of sanctions against Russia last month, exactly a year after the start of its invasion of Ukraine, noting that it also targeted European mediators, especially in Switzerland.
The UAE Central Bank granted a license to the Russian “MTS” bank to open a branch in the UAE capital, Abu Dhabi, last year.
The position of the United Arab Emirates, which called for ending the war on Ukraine without criticizing Russia last year, attracted a large number of wealthy Russians fleeing the sanctions imposed on their country.
© 2023 AFP