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FIDE: UBS plans to close accounts due to sanctions against Ilyumzhinov

FIDE: UBS plans to close accounts due to sanctions against
 Ilyumzhinov

UBS Bank plans to close the accounts of the International Chess Federation (FIDE) due to US sanctions against the head of the organization Kirsana Ilyumzhinov. This was told by FIDE treasurer Adrian Siegel in a letter published on the organization’s website. According to Siegel, Ilyumzhinov repeatedly took steps to exclude him from the US blacklist, but everything ended in vain. Recall that UBS – FIDE settlement bank. As reported, the sanctions against Kirsan Ilyumzhinov were introduced in late 2015 due to his ties, according to Washington, with the head of the Central Bank of Syria. Under the restrictions, and the bank “Russian Financial Alliance”, whose capital in 2013 entered Ilyumzhinov. It was even supposed that the RFA bank would become FIDE-Bank and participate in Ilyumzhinov’s sports and investment projects.

Kirsan Ilyumzhinov at a press conference spoke about his contacts with the Syrians, because of which he was included in the Sanctions list of the US Treasury. According to him, one of the reasons could be his help to the daughter of the head of the Bank of Syria

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