MOSCOW, October 15 – RIA Novosti. Russian businessmen have difficulty banking in Hong Kong amid Western sanctions against Russia, and the international banking group HSBC has confirmed that it has suspended investment services for its Russian clients in the city. writes South China Morning Post, citing sources.
“Russian businessmen in Hong Kong said they were having banking difficulties due to Western sanctions … A source familiar with the British Hong Kong Banking Group (HSBC) confirmed that the bank had sent a letter to most of its Russian clients in the city due to the suspension of retail investment services due to sanctions imposed by the European Union.
Please note that the suspension will not affect customers’ personal accounts or “other personal banking needs”.