The UAE has limited financial settlements with the Russian Federation

Due to the risk of secondary sanctions, the banks of the United Arab Emirates are gradually refusing to cooperate with the Russians.

Due to the risk of secondary sanctions, a number of UAE banks have limited payments with Russia. This is reported by Russian mass media with reference to businessmen working in the UAE.

It is reported that now Arab banks do not accept money from Russia and do not make payments in the opposite direction. Banks also close the accounts of companies whose owners are citizens of the Russian Federation.

Even Russian banks that have accounts opened in the UAE cannot use them for payments.

For now, companies with Russian owners can still open new accounts. However, the process is significantly delayed because Russia is on the “red list” in the UAE.

It will be recalled that at the beginning of the year, the UAE banned the passage of some tankers that can transport Rosneft.

USM also recently wrote that Ukraine coordinated the process of confiscation of Russian assets with its partners.