Citizens of so-called ‘unfriendly’ countries who do not have resident status in Russia are finding their funds in Russian bank accounts and deposits frozen. Even small sums have been frozen, reports RBC, citing several clients of leading Russian financial institutions.
According to the publication, the problem has arisen, in particular, holders of ‘talent visas’ for highly qualified specialists, ethnic Russians who have moved from Western countries, and foreign nationals who have emigrated to Russia in search of ‘traditional Russian spiritual and moral values’.
Bank customer service departments are informing foreign nationals that the restrictions have been introduced following a decree by Russian President Vladimir Putin dated 1 June 2026. According to this document, the ‘counter-sanctions’ measures introduced in spring 2022 against creditors from ‘unfriendly’ countries will now also apply to their bank deposits.
In March 2022, Putin signed a decree ‘on the temporary procedure for fulfilling obligations to certain foreign creditors’. It established the procedure for payments on loans, borrowings, securities and other financial obligations to non-resident creditors from ‘unfriendly’ states.
An ‘unfriendly’ country is a state or territory included by the Russian authorities in a special list due to actions deemed by Moscow to be hostile or restrictive towards Russia.
Russia’s list of ‘unfriendly’ countries includes, in particular, the US, the UK, all EU member states, Canada, Japan, South Korea, Australia and others. In total, there are around 50 countries on the list.