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Financial flows to Russia are drying up as global banks fear losing access to the US dollar, Treasury official says

Three Chinese largest banks stop accepting Russian payments

China's three largest banks, Industrial and Commercial Bank of China (ICBC), China Construction Bank, and Bank of China, have stopped accepting payments from Russian financial organisations that faced Western sanctions.

UAE banks limit business with Russia and begin closing accounts of Russian clients

Banks in the United Arab Emirates (UAE) have restricted their dealings with Russia and started closing both personal and business accounts due to the risk of coming under secondary sanctions. Source: Vedomosti, a Kremlin-aligned Russian news outlet, with reference to businessmen working in the UAE and a representative of the Delovaya Rossiya association Details: The trend was also confirmed by tax and legal advisers.

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