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Central Bank simplified the interaction of financial institutions with foreign customers

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Financial institutions will be able to conclude agreements with foreign banks without legalizing official documents confirming their status. This was announced by the Central Bank of Russia.

It is assumed that this measure will simplify the procedure for opening a bank account by foreign customers. Official documents will only be required when a legal entity is suspected of engaging in money laundering activities or sponsoring terrorism.

“Financial institutions will be able to conclude agreements with non-resident banks without legalizing foreign official documents confirming their status,” the report says.

Earlier, EU countries reported that the Russian Central Bank had frozen more than 200 billion euros in assets. Information on the exact number in each country was not reported.

Source: Riafan

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