Partner-Country Banks Tighten Requirements for Transactions Involving Russia

Banks in a number of countries are strengthening compliance controls for transactions involving Russian individuals and companies. Increased scrutiny has already been observed in Armenia and Serbia, with similar measures being applied in Kazakhstan, Tajikistan, and Oman. Market participants link these changes to the December 2025 decision by the European Commission, which added Russia to the list of countries with elevated AML risk. In practice, this results in enhanced Due Diligence procedures, additional requests from banks, payment delays, and selective transaction blocks. Experts note that the initial response from financial institutions is typically highly conservative. While processes may adapt over time, a return to previous transaction volumes and simplified interaction models is no longer expected.