ECB tells banks to watch all Russian clients in widening of sanctions net

The move brings even EU residents under heightened scrutiny

The instructions from ECB supervisors mean tens of thousands of Russians and Belarusians resident in the EU face intense surveillance by their banks.

EU regulators have told some banks to scrutinise transactions by all Russian and Belarusian clients, including EU residents, to ensure that they are not used to circumvent Western sanctions against Moscow. 

The instructions from ECB supervisors mean tens of thousands of Russians and Belarusians resident in the EU face intense surveillance by their banks, which are on alert for big payments and deposits as well as new credit applications, said sources.