Saxo Bank Suspends Russian And Belarusian Clients Due To Sanctions – Cryptovibes.com – Daily Cryptocurrency and FX News
https://ift.tt/fLno7UM
Danish investment bank Saxo Bank on April 9, 2022, confirmed that it had terminated clients from Belarus and Russia while responding to sanctions imposed on these nations after Russia invaded Ukraine.
A spokesperson from the bank said in a statement:
“It is a small number of clients, and a decision made based on the tougher sanctions imposed on the two countries as a result of Russia’s terrible invasion of Ukraine.”
As of April 8, clients from Russia and Belarus could not open any new positions or increase the size of their current holdings. These terminations were scheduled to take full effect on June 8, according to an official statement from the bank.
Until that time, these clients are still allowed to withdraw cash and securities, but the transactions would be subjected to lots of scrutinies before approval.
Cryptocurrency
