Europe has found a new way to influence the assets of Russians

EU banks have massively raised the minimum threshold for the operation of accounts for customers with Russian passports. RBC informs about this today, February 7, with reference to lawyers who are aware of the situation.

"Initially, banks raised this limit in 2022, but if earlier the minimum amount of balances was two million dollars, now it reaches five million, ten million and even 15 million. Because of this, Russian citizens are transferring capital from European banks to jurisdictions that are more loyal to them, including Israel, the United States, and so on," said Mark Oygman, co-founder and managing partner of Smartgen Multi—Family Office.

Such requirements apply not only to Russians, but also to clients with a second Russian passport, as well as to those who have a residence permit in Europe.

IPN Partners partner Inna Perelekhova also clarified that the increase in limits has been observed since the end of 2023. For example, in December 2024, UBS and LGT banks from Switzerland confirmed the closure of accounts of Russians with balances of more than $ 20 million.