Europe’s Largest Digital Bank Revolut Bans All Russia-Origin Funds

Europe’s largest digital bank, Revolut, has stopped accepting money transfers from Russia, even if routed through third countries such as Kazakhstan. The bank warned clients that breaching the ban could lead to account suspension or closure.

This was reported by The Moscow Times on August 8, citing financial adviser Natalia Smirnova.

According to The Moscow Times, Smirnova said all those who received such notices are Russian passport holders living in various EU states with residence permits. The restrictions apply to any funds originating from Russia, not just from sanctioned individuals.

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The decision closes a loophole long used to bypass SWIFT restrictions and EU sanctions: funds were first sent to countries like Kazakhstan, Kyrgyzstan, or Armenia and then transferred to Revolut accounts in Europe.

The move follows a June investigation by The Bell, which revealed a scheme allowing Russians in Europe to circumvent sanctions, The Moscow Times reported. According to the outlet, money from Russia—often via Sberbank—was sent to CIS countries, converted into cryptocurrency such as USDT, processed through intermediaries, and returned to the EU as “personal transfers.” Financial technology company Revolut told The Bell that such practices violated its rules and has now acted to block them.

Earlier, it was reported that US President Donald Trump lifted sanctions on Syria, simultaneously removing several Russian banks, companies, and individuals from US sanctions lists.

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