British-Hong Kong banking group HSBC Holdings plc announced that payment transactions to the Russian Federation, Belarus and these countries have been stopped. Reuters.
The group announced that due to new measures, payments from these countries may be rejected and funds returned.
“If you need to make or receive payments from these countries, you will need to make alternative arrangements,” HSBC said in a statement.
The bank did not give reasons for this decision and apologized for the inconvenience experienced by customers.
HSBC It is the largest British bank by assets and market value. In July 2022, it signed an agreement to sell a business in the Russian Federation to Expobank. After that, the banking group would finally leave Russia. President Vladimir Putin approved the agreement in February this year. closed At the end of May.
It was previously reported that Turkish banks had this intention. give up completely From transactions with Russia.
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Source: Gazeta
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.