Armenian Citizens Can Open Accounts in Russian Banks Through Simplified Procedures: Mishustin

The Head of the Government of the Russian Federation, Mikhail Mishustin, has signed a decree that establishes a list of countries whose citizens and legal entities can open accounts and deposits in Russian banks through a simplified process. This was reported by Vedomosti.

“For this, foreign citizens must submit a package of necessary documents to their credit organization in their home country before entering Russia. Upon arrival, they will already be able to make payments in our banks,” the Russian Prime Minister said during a meeting with deputy prime ministers.

Mishustin added that this decision aims to improve cooperation among the business communities of partner countries.

According to Mishustin, the list includes Belarus, Kazakhstan, Brazil, India, China, Saudi Arabia, Turkey, and several other friendly countries.

Earlier, Vedomosti had reported on the approval by the cabinet of ministers of the list of countries whose banks can identify their citizens and companies for conducting financial transactions in Russia and opening accounts in Russian banks.

In addition to the countries mentioned by Mishustin, the list also includes Armenia, Azerbaijan, Algeria, Bahrain, Egypt, Indonesia, Qatar, Kyrgyzstan, Kuwait, Malaysia, Mongolia, the UAE, Oman, Pakistan, Tajikistan, Thailand, Turkmenistan, and Uzbekistan.