Portugal’s Largest Bank Warned Some Russian Clients That Their Accounts Will Be Closed

Portugal’s largest bank warned some Russian clients that their accounts will be closed

As RBC learned, Caixa Geral de Depositos said it will close the accounts of some clients starting August 14. The institution asked them to return their checkbooks and bank cards. Clients were promised that the money from their accounts would be returned at a bank branch.

This message from the bank was received mainly by holders of Russian passports without a residence permit, or by those who had not updated information about their status with the bank.

But such notices were also sent to Russians who work for European or Portuguese companies and also have Portuguese residence permits.

Experts who spoke with RBC linked what is happening to tighter sanctions compliance at European banks after the 19th sanctions package was adopted in October 2025.

@meduzalive