One of the largest banks in Dubai blocks investment accounts of Russians

Emirates NBD Bank (ENBD), the second largest bank in Dubai, United Arab Emirates, has started blocking investment accounts of Russians. This is reported by Forbes.

It is noted that if Russians are not residents of the European Union, the European Economic Area or Switzerland, their assets will be transferred to a separate dedicated account, to which restrictions on cash transfers will be imposed. The restriction was introduced by an EU order.

”Now any coupons, dividends and proceeds from the sale of shares of Russian clients are transferred to a separate account and cannot be withdrawn to the ENBD account," the message says.

This measure will affect even those who have a residence permit in the UAE.