North Bergen, NJ asked in Banking and International Law for Florida

Q: I need legal advice regarding sanctions restrictions that may apply to bank accounts of a citizen of Russian Federation


I am writing to kindly request a legal advice regarding sanctions restrictions that may apply to bank accounts of a citizen of Russian Federation.

The case is as follows:

A citizen of Russian Federation has bank accounts in banks in Europe and in the USA.

1. Under what sanctions restrictions can such accounts fall (or already fall) at the present time?

2. What would be the basis for these sanctions?

3. Does a residence permit or a tourist visa affect sanctions restrictions for a citizen of Russian Federation? The Russian citizen has residence permits in the USA and Germany.

4. What are the restrictions if the Russian citizen does not permanently reside in the country where the bank account is opened? Does it influence at all?

Additional information: we need this legal opinion for our own usage and understanding of the situation.

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1 Lawyer Answer
Jane Kim
Jane Kim pro label Lawyers, want to be a Justia Connect Pro too? Learn more ›
  • Business Law Lawyer
  • Naples, FL
  • Licensed in Florida

A: This is not the forum where you can type up specific legal questions, and receive free legal advice. As a lawyer, I may provide some direction, however. For instance, why are you asking these questions? Have your accounts been closed? Have the US banks cite to any laws pursuant to which they closed them? If you do not have an actual legal issue, your legal issue "is not ripe" for legal review.

If you are contemplating opening an account, you should contact the bank. Each bank has its own policies, in addition to various laws that apply to them.

Finally, to get answers on sophisticated topics such as US sanctions of foreign nationals, you will have to retain counsel and pay for an advice tailored to your specific needs.

Good luck.

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