Israel seeks transfer of Russian funds to immigrants amid Ukraine war

Finance Ministry says among one million former Soviet Union immigrants in Israel, 57,000 are retirees who receive Russian pensions, which have been frozen due to sanctions imposed by West on Moscow over invasion

Reuters, Ynet|
Finance Minister Avigdor Liberman is looking for ways to enable Russian immigrants to access their bank accounts in Russia and transfer money to Israel, a senior ministry source said on Tuesday.
  • Follow Ynetnews on Facebook and Twitter

  • Sanctions imposed by Western governments on Moscow over the Ukraine conflict have made it difficult for Russians living abroad, such as the ex-Soviet immigrants who tend to favor Liberman's political party, to obtain funds.
    2 View gallery
    ישיבת הממשלה
    ישיבת הממשלה
    Avigdor Liberman
    (Photo: Yoav Dudkevitch)
    The ministry source said that in Israel, home to more than one million immigrants from the former Soviet Union, there are 57,000 retirees who receive Russian pensions but are unable to transfer those funds to Israel.
    To that end, Liberman would on Tuesday convene discussions with ministry staff and representatives of the Bank of Israel "on the transfer of funds from Russia to innocent citizens living in Israel," the source said, confirming a report in Ynet's sister outlet Calcalist.
    "In addition, there are citizens who are not under sanctions who ... are trying to transfer their money from there to Israel through financial institutions that are active in Russia and not under sanctions but are facing difficulties due to the refusal of Israel banks to approve the transfers."
    2 View gallery
    Jewish immigrants from Russia arrive in Israel
    Jewish immigrants from Russia arrive in Israel
    Jewish immigrants from Russia arrive in Israel
    (Photo: Ynet)
    Lieberman was born in Moldova and his Yisrael Beytenu party typically attracts an ex-Soviet immigrant constituent base. Israel is holding a new election on Nov. 1 after parliament dissolved itself last month.
    The Bank of Israel said only that it would present its regulatory positions at the meeting.
    While Israel is not a party to the sanctions, it has obeyed them since they are set by allies the United States and Europe. In recent years, Israeli banks have been fined heavily by the U.S. Department of Justice for tax evasion by American citizens.
    The commenter agrees to the privacy policy of Ynet News and agrees not to submit comments that violate the terms of use, including incitement, libel and expressions that exceed the accepted norms of freedom of speech.