Russian Nationals in Turkey Racing to Open Bank Accounts to Protect Savings Against Sanctions

Russian Nationals in Turkey Racing to Open Bank Accounts to Protect Savings Against Sanctions
People queue outside a branch of Russian state-owned bank Sberbank to withdraw their savings and close their accounts in Prague on Feb. 25, 2022, before Sberbank closed all its branches in the Czech Republic later in the day. Michal Cizek/AFP via Getty Images
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Russian nationals who have left their country and relocated to Turkey are racing to open bank accounts in an effort to avoid sanctions levied by Western nations in the wake of Moscow’s invasion of Ukraine.

According to local reports, there has been a significant increase in demand from Russian citizens seeking to open bank accounts in Turkey in recent weeks, and experts believe that demand will only increase further as more sanctions are levied against the Kremlin.
Katabella Roberts
Katabella Roberts
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Katabella Roberts is a news writer for The Epoch Times, focusing primarily on the United States, world, and business news.
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