UAE revokes license of Russian MTS Bank after new US sanctions list
On March 31, 2566, Bloomberg News reported that The United Arab Emirates revoked the Abu Dhabi license of Russia's MTS Bank, weeks after the bank The case was added to a new round of sanctions by the United States.
The decision to halt MTS Bank's operations in the United Arab Emirates will take six months, the UAE Central Bank said in a statement on Friday. Companies based in Russia are prohibited from operating. Except for clearing previous obligations.
MTS Bank was one of 250 legal entities and individuals sanctioned by the US Treasury Department in February. It is part of the international response to Russia's continued aggression in Ukraine.
“This decision was made after considering the options available regarding MTS Bank's new status and taking into account the sanctions risks associated with the bank following its designation.”
However, MTS Bank received its Abu Dhabi license last year. Because thousands of Russians flock to the United Arab Emirates. After Russia started the war with Ukraine
