: :inin Kyiv (EET)

Western Union stops money transfers from Russia to Ukraine without opening bank account – media


On May 5, Western Union international money transfer operator will suspend remittance of money from Russia to Ukraine without opening a bank account, according to the Russian newspaper Vedomosti.

The reason for the Western Union`s adoption of this decision was a law on financial sanctions, approved by the government of the Russian Federation in response to Ukraine`s sanctions imposed against Russian banks and payment systems, Vedomosti reported.

The law comes into force on May 5.

On March 29, the Russian State Duma passed a law restricting money transfers from Russia to foreign countries via foreign payment systems.

”This means that it will be more expensive for Ukrainians to transfer money within the CIS [Commonwealth of Independent States], where the positions of Russian payment systems with their cheap tariffs have been strong for many years,” FinClub reports.

Earlier, all Russia`s payment systems that operated in Ukraine were included in the sanctions list. It was noted that they would be replaced by such international systems as Western Union and MoneyGram.

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