“Italy’s largest bank Intesa Sanpaolo will stop accepting payments in euros from all Russian banks, except for its own “daughter” in Russia – Intesa. This is reported by The Moscow Times. From January 15, 2025, Intesa Sanpaolo will also change the terms of service of the correspondent account of its subsidiary bank, after which payments in euros will remain available only for commercial purposes on accounts with Intesa, its “subsidiaries” and banks located on the territory of Italy. Intesa’s decision will primarily affect Russian corporate clients who used the local “daughter” of the bank for settlements in euros with counterparties outside Italy, say Russian lawyers. Advertisement: According to them, these are primarily exporters and importers, companies from the service and industrial production sectors. About 15 Russian banks have accounts with Russia’s Inteza, and now their customers, who depend on long-term contracts settled in euros, may now face difficulties. This is especially true for small and medium-sized businesses working with Italy, which will have to look for alternative payment routes. Since December 16, “Inteza” has increased the commission for legal entities and individual entrepreneurs for currency control of transactions carried out when buying or selling goods without importing them into the territory of the Russian Federation. For individual transactions, the commission increased tenfold. In October, the bank increased the fee for opening an account in euros for corporate clients tenfold, to 50,000. rubles”, — write: epravda.com.ua
Italy’s largest bank Intesa Sanpaolo will stop accepting payments in euros from all Russian banks, except for its own “daughter” in Russia – Intesa. This is reported by The Moscow Times. From January 15, 2025, Intesa Sanpaolo will also change the terms of service of the correspondent account of its subsidiary bank, after which payments in euros will remain available only for commercial purposes on accounts with Intesa, its “subsidiaries” and banks located on the territory of Italy. Intesa’s decision will primarily affect Russian corporate clients who used the local “daughter” of the bank for settlements in euros with counterparties outside Italy, say Russian lawyers. Advertisement: According to them, these are primarily exporters and importers, companies from the service and industrial production sectors. About 15 Russian banks have accounts with Russia’s Inteza, and now their customers, who depend on long-term contracts settled in euros, may now face difficulties. This is especially true for small and medium-sized businesses working with Italy, which will have to look for alternative payment routes. Since December 16, “Inteza” has increased the commission for legal entities and individual entrepreneurs for currency control of transactions carried out when buying or selling goods without importing them into the territory of the Russian Federation. For individual transactions, the commission increased tenfold. In October, the bank increased the fee for opening an account in euros for corporate clients tenfold, to 50,000. rubles