HSBC Bank has stopped processing payments to and from Russia

“Any payments processed through HSBC involving Russia or Belarus may be held for further review and may be rejected/refunded at our discretion. If you plan to send or receive payments to or from Russia or Belarus, please use alternative methods,” it says on the group’s official website.

The group announced its departure from the Russian Federation back in 2022. In February of this year, the President of Russia approved the sale of the domestic subsidiary of HSBC to Expobank.

The decision to stop payments from/to the Russian Federation using personal bank cards, therefore, became an expected step after the British lender went out of business in the countryas conveyed Reuters.

Agency analysts believe that this is also a consequence new sanctions USA (including against the Russian Gazprombank). The publication notes that “HSBC, like other European banks, is particularly sensitive to supervision by US authorities.”

Cover photo: Unsplash

Source: rb.ru