One of the largest Turkish banks DenizBank has significantly tightened the conditions for opening accounts for Russian nationals since the beginning of 2024 and has practically stopped approving such applications, RBC business portal reports citing two intermediaries who help Russian citizens get cards in Turkish banks.
As followed by bne IntelliNews, the US has stepped up the pressure of secondary sanctions on the banking systems of Russian main trading partners, which appeared to influence the trade dynamics in the beginning of 2024, including trade with Turkey.
DenizBank used to be owned by Russia's largest lender state-controlled Sber (Sberbank) that sold Deniz prior to Russia's full-scale military invasion of Ukraine.
Sources surveyed by Kommersant claim that DenizBank “has practically stopped” opening accounts for Russian citizens since the beginning of 2024, approving only one out of ten applications. It is impossible to open an account even with a residence permit and a confirmed address in Turkey.
The bank reportedly makes exceptions only for clients with large deposits of $100,000 and more.
Related Articles
Belgium threatens to block Ukraine reparations loan unless EU shares risks
Belgium has warned it will block a proposed reparations loan to Ukraine backed by frozen Russian assets unless other EU countries agree to share legal and financial risks, Belgian Prime Minister Bart ... more
Russia ready to cooperate with Iran on nuclear issues, says Peskov
Russia will continue to cooperate with Iran including in the field of “peaceful nuclear energy”, Kremlin spokesman Dmitry Peskov said on October 20, Vedomosti newspaper reported. ... ... more
South Africa probes locally made LightWare components found in Russian drones used in Ukraine
South African authorities have launched an investigation after electronic components manufactured domestically were discovered in Russian drones used in the war in Ukraine, officials confirmed this ... more