< Back
Russians may leave the UAE due to closer inspections by banks
Mar 28, 2024
The flow of Russian money to the UAE has begun to slow down and is unlikely to increase. The country's banks have begun to comply with Western sanctions more closely.
This is reported by RBC-Ukraine regarding Bloomberg.
The publication writes that some people who came from Russia are now considering moving to new jurisdictions or even returning home.
Russian organizations opening accounts are now more likely to face scrutiny from local banks.
"The UAE is under increasing pressure from the US to combat potential sanctions evasion," the article says.
Investment immigration firm Henley & Partners says that some of its Russian clients have either reduced their real estate assets in Dubai, which they bought two years ago or kept a small base and returned to Moscow.
Author - Serhii Kolomiets, 29/03/2024
