According to the newspaper's source, the Hongkong and Shanghai Banking Corporation (HSBC) sent a letter to its Russian customers in the city, notifying them that it had suspended retail investment services due to the sanctions imposed by the European Union.
However, the restriction will not impact the customer's personal savings accounts or "other personal banking needs," the source told the newspaper.
Western countries have increased sanctions pressure on Russia since the start of the special military operation in Ukraine on February 24. Disruption in supply chains has led to higher fuel and food prices across the EU and the United States, driving inflation to record levels and causing the cost of living to soar.