The Parliament of Uzbekistan has approved a bill allowing banks to refuse opening accounts and financial transactions to those who are under sanctions.
“The current legislation lacks a legal basis for regulating and controlling the risks associated with economic sanctions in the activities of credit and payment organizations. This allows individuals who are under economic sanctions or sanctions risks to open accounts and carry out transactions in local banks without hindrance,” – the parliament said.
The parliament’s decision was made a few days after the EU court rejected the claim of billionaire Alisher Usmanov (according to court documents living in Uzbekistan) to lift EU sanctions against him.
