One of Georgia’s largest banks, TBC Bank, has warned customers that it may close their accounts if transactions violating sanctions against Russia are detected. The blockages will be carried out without warning, the bank said (Kommersant, April 21).
The bank’s notice reads: “The sanctions imposed against Russia by the United States, the United Kingdom and the EU include, among other things, asset freezing, blocking, restriction of access to financial resources, direct and indirect bans on exports from the United States, the United Kingdom and the EU to Russia and vice versa.
Please note that if the Bank identifies a transaction in violation of sanctions, it reserves the right to close customer accounts without prior notice”.
Russian journalist Aleksandra Krasnova, in particular, wrote about the receipt of the relevant notice in her Telegram channel Moneyhack. According to her, the bank fears being hit by Tuesday’s U.S. sanctions.
According to Krasnova, “A couple of weeks ago, TBC stopped accepting transfers through Korona Pay from any Russian banks, not just those under sanctions. I guess this is not the last episode in the “Russians and foreign banks” series.
It is noted that Bank of Georgia announced similar measures earlier.