Revolut Bank explained the reasons for closing the accounts of some Russians.

Revolut Bank is obligated to comply with sanctions laws and regulations in all jurisdictions where it operates. This is how the financial institution's press service commented to RBC regarding the closure of accounts for Russian clients who do not have EU residency or citizenship.

"As a globally regulated financial institution, Revolut must comply with the sanctions laws and regulations of the UN, the European Union, the United Kingdom, the United States, and all other applicable laws and regulations in all jurisdictions in which Revolut operates," the bank responded to RBC.

On November 1, the bank sent two messages to clients: one asking for a copy of their residence permit, and the second informing them that their accounts had been closed, making it impossible to provide the necessary documents. As the BBC Russian Service reported, some Russian clients had asked the bank in advance whether their accounts would be frozen after the sanctions were imposed, and were told they had nothing to worry about "at least until the end of December."

The 19th package of sanctions against Russia came into force on October 23. It includes a reduction in the price ceiling for Russianoil from $60 to $47.6 per barrel, restrictions on the Mir payment system, a ban on transactions with Rosneft and Gazpromneft, and sanctions against 118 ships allegedly used to transport Russian oil .

Russian authorities consider Western sanctions illegal.

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