Revolut has started blocking accounts of Russians and Belarusians 0 47

The Lithuania-registered online bank Revolut has begun notifying its Russian clients, who do not have a temporary residence permit or citizenship of an EU country, about the closure of their accounts.

The bank refers to the 19th package of EU sanctions against Russia, which were introduced due to the full-scale Russian invasion of Ukraine, reports Radio Free Europe.

Since Saturday, users who opened accounts under a category D visa have received two letters. The first asked them to upload to the system "a copy of a valid temporary or permanent residence permit in an EU member state, a country in the European Economic Area (EEA), or Switzerland, or proof of having a European passport." The second letter stated that the contract with the client would be terminated at the end of the year.

"Until December 31, 2025, the user is prohibited from depositing money, making card payments, withdrawing cash from ATMs, and sending money to other Revolut accounts," the material states.

Previously, Revolut allowed Russian citizens with a European residence permit or a long-term national category D visa to open accounts.

In response to a request from the BBC, Revolut's press service stated:

"As a globally regulated financial institution, Revolut must comply with the sanction laws and regulations of the UN, the European Union, the United Kingdom, the United States, and all other applicable laws and regulations in all jurisdictions in which Revolut operates."

Thus, Revolut adheres to EU sanctions and will not provide payment services or electronic banking services to Russian and Belarusian citizens who do not have a valid permanent or temporary residence permit in EU countries, Iceland, Norway, Liechtenstein, or Switzerland, or citizenship of these countries.