The Bahamas found $3 billion of Russian money in their banks
The Central Bank of the Bahamas disclosed data on Russian assets. In total, there are about 3 billion dollars on the accounts, the owners of which are connected with the Russian Federation. Reported by Reuters.
The Bahamas on March 12 ordered a halt all transactions with Russian entities that have been put under sanction by Western nations.
The central bank found $420 million in deposits and $2.5 billion in custody or trust assets “with ultimate beneficial owners from or connected to Russia” in Bahamian financial institutions that are licensed to serve foreign clients.
Those figures apply only to the international banking and trust sector, which serve clients outside the country, and do not include any Russian assets that could be held in Bahamian banks that serve the local population, the central bank said.
The Bahamas nation has vocally condemned Russia’s invasion of Ukraine.