UN opened Russian bank account to enable climate payments amid sanctions

FILE PHOTO: A view shows a board with the logo of Sovcombank at the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia June 17, 2022. REUTERS/Maxim Shemetov/File Photo

MOSCOW (Reuters) - The United Nations said it opened a Russian bank account in 2022 as Western sanctions complicated the use of normal payment channels and has received membership fees from three Russian banks to a U.N. climate funding programme since then.

Sovcombank, one of Russia's 13 most important credit institutions according to the central bank, on Monday said the U.N. had opened an account with an undisclosed, non-sanctioned Russian lender, to allow for transactions in roubles.