Unicredit Bank announced that from June 6 it will stop making outgoing transfers in U.S. dollars for individuals.
The decision is due to restrictions from the foreign correspondent bank. Since May 26, all outgoing payments will be processed through UniCredit’s Italian parent company. After June 6, transfers in dollars will be unavailable, and clients are advised to consider alternative ways of transferring funds.
Andrei Gusev, Senior Partner at Nordic Star Law Offices , notes that in recent years there has been a decline in the volume of dollar transfers from individuals.
An analysis of this trend is in the Vedomosti article.
Andrei Gusev
Senior Partner, Attorney-at-Law
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