OREANDA-NEWS  Banks in the United Arab Emirates (UAE) began to closely monitor Russian companies. Organizations are tightening control over financial transactions of firms due to pressure from the United States, Bloomberg writes.

Some credit organizations have already begun to require additional documents from Russian companies based in the UAE in order to conduct a particular transaction. The time period for transferring funds from account to account has also increased — this applies both to transfers to Russia and to third countries. Sometimes banks block the funds of companies to justify the transfer, or question the origin of the money.

Daria Nevskaya, a lawyer from Dubai, confirmed that from a financial point of view, it has become much more difficult to be Russian in the UAE, and the situation is only getting worse. She also added that some banks that used to accept payments from Russia have now stopped such operations. Against the background of harsh measures, large companies began to close accounts in the UAE and transfer funds to Hong Kong.

Earlier, large Israeli banks began to segregate (isolate) the accounts of Russians at the request of the international depository Euroclear. Since November 13, credit organizations have been massively blocking brokerage accounts of Russians, even if they have an Israeli passport. After the "separation", the assets are transferred to a separate account, from which, in the worst case, the securities cannot be sold. It is also impossible to withdraw money from such accounts, but coupons can be withdrawn if the volume of transactions does not exceed 100 thousand euros per year to one account, said lawyer Eli Gerwitz.