Toxic Kirsan Ilyumzhinov condemned FIDE to life without a bank account

Bank UBS closed accounts of the International Chess Federation (FIDE) due to sanctions against Kirsan Ilyumzhinov. Negotiations with other banks did not lead to success and FIDE (FIDE) remained without banking services.
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The International Chess Federation (FIDE) remained without bank accounts, treasurer Adrian Siegel warned 189 members of the federation to postpone the transfer of money until the organization can not open a bank account, writes the Financial Times.

April 30, the bank UBS, as well as warned, closed the accounts of FIDE. Four other Swiss banks refused to service the accounts of the federation, the newspaper writes.

The publication refers to a letter that FIDE Executive Director Nigel Freeman sent Ilyumzhinov. The newspaper got acquainted with the content of the letter, which stated that over the past two weeks the Federation had negotiated with four other Swiss banks, but they all refused to take FIDE as a client while Ilyumzhinov remains its president. In addition, Freeman wrote that 18 banks in Geneva and Lausanne generally refused to meet with the leadership of FIDE.

Negotiations turned out to be inconclusive with the Romanian and Georgian banks. The

The Swiss bank UBS announced its intention to close FIDE accounts on February 13, 2018, referring to the fact that sanctions were imposed on the head of the chess federation Kirsan Ilyumzhinov. On February 20, as the FT notes, the bank sent a letter to FIDE about the termination of business relations and a warning that the account will be closed on April 30.

Ilyumzhinov got on the sanctions list in November 2015, the US Treasury accused him of having links with the head of the Central Bank of Syria Adib Mayalekh, who was under the sanctions, as well as one of the Central Bank's leaders Batul Reidoy.

In April, the leadership of FIDE demanded the immediate resignation of Ilyumzhinov. The question of the early resignation of the incumbent FIDE president was raised at a meeting of the presidential council of the organization, which was held April 7-8 in Minsk. For the early resignation of Ilyumzhinov, 14 people voted, one against, no abstentions.

Swiss banks refuse to cooperate with FIDE because of Ilyumzhinov
Kommersant, 05/02/2018

The International Chess Federation (FIDE) has begun a search for a new bank that will maintain the accounts of the federation, the Financial Times reports. The large Swiss bank UBS, with which the federation cooperated before, officially broke off relations with it, since FIDE President Kirsan Ilyumzhinov has been included in the US sanctions list since 2015.

Earlier it was already reported that UBS decided to close the accounts of the federation.

Adrian Siegel, in charge of FIDE's finances, warned 189 members of the federation to postpone the transfer of money until a UBS replacement is found. Negotiations were held with four Swiss banks, but none of them wanted to cooperate with FIDE, since its president is Mr. Ilyumzhinov, reports the FT.

Recall, in April, Kirsan Ilyumzhinov completed the nomination of his candidacy for another presidential term, presenting the so-called ticket - that is, the composition of the team, which will take key positions in the structure in case of victory of its leader in September elections in Batumi. Since last year, at various levels of its management, he repeatedly put forward "recommendations" to leave the post, and the main opponent of Kirsan Ilyumzhinov, apparently, will be his deputy Georgios Makropulos.