Skip to main content

UAE Central Bank revokes license of Russia's MTS Bank as sanctions tighten

The Central Bank of the UAE plans to close the Russian bank’s operations within six months from the date of the decision. 

Russian President Vladimir Putin meets with United Arab Emirates President Sheikh Mohamed bin Zayed Al-Nahyan in Saint Petersburg on October 11, 2022. (Photo by Pavel Bednyakov / SPUTNIK / AFP) (Photo by PAVEL BEDNYAKOV/SPUTNIK/AFP via Getty Images)
Russian President Vladimir Putin meets with United Arab Emirates President Sheikh Mohamed bin Zayed Al-Nahyan in Saint Petersburg on October 11, 2022. — PAVEL BEDNYAKOV/SPUTNIK/AFP via Getty Images

Subscribe for unlimited access

All news, events, memos, reports, and analysis, and access all 10 of our newsletters. Learn more

$14 monthly or $100 annually ($8.33/month)
OR

Continue reading this article for free

Access 1 free article per month when you sign up. Learn more.

By signing up, you agree to Al-Monitor’s Terms and Conditions and Privacy Policy. Already have an account? Log in