Russian Banks Refuse to give Loans to Crimeans

The instability of the credit histories of Crimean residents means that the denial of their loan applications has become a “common practice” of Russian banks, as explained by the head of the Union of Financial Services Consumers (FinPotrebSoyuz), Mikhail Beliaev.

“As we know, the bank is a commercial institution and operates within strict guidelines and instructions... We need to understand that the labor situation in the Crimea is not good, of course, and therefore wages are not stable. It is not that they are former Ukrainians or something like that, so to say, Ukrainians and newly acquired Russians. But the thing is that funding might not be adequate, their own income, to be considered trustworthy enough to provide such loans,” emphasized Beliaev, as reported by Krim Realii.

Crimean residents are having a difficult time securing loans from Russian banks. Inhabitants of the peninsula have reported several such instances to journalists in Sevastopol. According to them, employees of the bank VTB 24 denied credit to a Muscovite who is a registered resident of Sevastopol. Bank personnel explained the denial by stating that “Crimean and Sevastopol residents are listed as untrustworthy clients.”


  Crimea, VTB Bank, Russia, Ukraine