Moscow-Sana
Russian President Vladimir Putin today signed a law prohibiting Russian banks from sending information about their customers and their transactions to the relevant authorities of countries that impose sanctions on Russia, its citizens or its organizations.
The new law, which was published by the official information portal on its website today, according to the Russia Today website, aims to “reduce the risks associated with the adoption of laws by foreign countries aimed at obtaining from Russian credit institutions (under the threat of sanctions) information that represents
Banking Secrets.
This Russian law comes in response to the arbitrary Western actions, as the United States issued at the beginning of 2021 a law obligating financial institutions in the Russian Federation (under the threat of sanctions) to provide the US authorities with any required personal information, including banking secrecy.
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