Russian News Agency RT Says British Bank Suddenly Blocked Its Accounts

Traders react to early market moves on the London Stock Exchange and the FTSE100 index at CMC Markets in London, Monday, Oct. 6, 2008 . Britain's benchmark stock index, the FTSE 100, fell 4.62 percent in the first 1... Traders react to early market moves on the London Stock Exchange and the FTSE100 index at CMC Markets in London, Monday, Oct. 6, 2008 . Britain's benchmark stock index, the FTSE 100, fell 4.62 percent in the first 15 minutes of trading on Monday morning, following a slide in Asian markets as the financial crisis worsened over the weekend. The FTSE fell 230.2 to 4,750.05. The worst declines were in the banking industry _ HBOS PLC's share price dropped 12.7 percent to 175 pence (US$3.08), while the Royal Bank of Scotland Group PLC fell 10.8 percent to 166 pence (US$2.92). (AP Photo/Alastair Grant) MORE LESS
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A subsidiary of the Royal Bank of Scotland Group has refused service to Russian media organization RT, formerly known as “Russia Today.”

Margarita Simonyan, editor-in-chief of the state-owned network, claimed on Twitter Monday that National Westminster Bank, known as NatWest, had refused service to the network.

“They’ve closed our accounts in Britain. All our accounts. ‘The decision is not subject to review.’ Praise be to freedom of speech!” Simonyan tweeted, as translated by the BBC.

The BBC reported that RT received notice from NatWest, a subsidiary of the Royal Bank of Scotland Group, that they were no longer customers of the bank, and that the news agency had until December 12, when its accounts would be liquidated and a check issued for their value, to transfer them elsewhere.

“We have recently undertaken a review of your banking arrangements with us and reached the conclusion that we will no longer provide these facilities,” NatWest said in a letter to the network.

The Guardian reported Monday morning that, “after several hours of confusion,” the British treasury had denied any involvement with NatWest’s decision.

“This isn’t something that has come out of the Treasury,” one unnamed source insisted to the Guardian. “The U.K. government had not introduced any fresh sanctions or ‘obligations’ against Russia since February 2015.”

That didn’t stop a wave of Russian politicians from condemning the move, accusing the U.K. of hypocritical free speech standards.

“They haven’t explained the reasons and I think they can’t explain them because there can’t be any reasons,” Simonyan told Russian state media, according to BBC. “We have an absolutely transparent operation there, absolutely transparent funding. There have never been any complaints in this regard at all.”

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Notable Replies

  1. Suddenly free speech is important to Russians? lol, good one.

  2. That was quick. Just a couple of days ago I was reading about the CIA prepping a response to Russia monkey wrenching our election.

  3. Avatar for paulw paulw says:

    It is, of course, impossible that RT might have violated any bank or regulatory requirements on structuring of transactions, maintaining up-to-date accountholder information, blah blah blah. Or had an account at a branch that might not be able to service them post-brexit…

  4. In a word, good.

  5. "They’ve closed our accounts in Britain. All our accounts. ‘The decision is not subject to review.’ Praise be to freedom of speech!”

    What’s the definition of irony again?

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