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179 new news items in the last 24 hours
3 November 20:38

Revolut has started to block the accounts of Russian and Belarusian citizens to comply with EU sanctions, leaving clients without access to funds.

Raluca Ioana Draghici
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Revolut, a popular online bank among EU expats, has decided to block the accounts of Russian and Belarusian citizens as part of its compliance with the sanctions imposed by the European Union on October 23. This measure has led to difficulties for customers, who have been unable to access their funds and have encountered technical issues in trying to prove their residency in the EU. The bank has notified users that their agreements will be terminated on December 31, 2025, and the restrictions target individuals who opened accounts with residence permits or long-term visas.

Revolut explained that it acts to comply with international sanctions, which prohibit the provision of financial services to Russian and Belarusian citizens without residency in the EU. Although some users have managed to regain access, many others continue to face restrictions. Revolut acknowledged a technical issue that prevented users from submitting the necessary documents to restore access. This situation suggests that other payment services may follow Revolut's example in enforcing sanctions.

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