Putin signs law on data sharing with ‘unfriendly’ states
Russian President Vladimir Putin signed a law on Sunday barring the country’s banks from sharing data with government agencies from so-called ‘unfriendly’ nations that have illegally sanctioned Russian entities and individuals.
The new law prohibits the country’s financial institutions from responding to requests from foreign agencies, including judicial bodies, for information about their clients and transactions.
From now on, banks are instructed to reject such inquiries, citing Russian law as the reason for not processing such requests.
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