The UN opened an account with Sovcombank for payments in rubles – Kommersant
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The United Nations (UN) has opened an account with the Russian Sovcombank to make payments in rubles, the financial institution told Reuters. According to the bank, the UN has already begun accepting ruble payments.
The bank notes that using the account, the lending institution sends payments to the UN under the Environment Financial Initiative (UNEP FI). In addition, to pay membership fees to various international non-profit organizations, including UNEP FI, Sovcombank applied to the US Treasury (OFAC) for a license that would allow payment in US dollars. The opening of a ruble account by the UN became a temporary measure until Sovcombank received a license from the US Treasury.
The UN has not yet commented on this information.
In 2023, Deputy Chairman of the Board of Sovcombank Mikhail Avtukhov said in an interview with Reuters that Western sanctions do not allow the bank to make payments to the UN, as well as to other Russian participants in the program. Sovcombank has been a participant in the UN program since 2019, and it came under sanctions from the US, UK and EU in 2022.
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