World chess physique’s monetary institution accounts closed

World chess physique’s monetary institution accounts closed

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World Chess Federation President Kirsan Ilyumzhinov Image copyright AFP
Image caption World Chess Federation President Kirsan Ilyumzhinov has been below US sanctions since 2015

The World Chess Federation (FIDE) says its Swiss monetary institution accounts were closed after its president modified into as soon as accused of facilitating transactions on behalf of the Syrian authorities.

Russian millionaire Kirsan Ilyumzhinov modified into as soon as added to a US Treasury Department sanctions listing in 2015 for his alleged dealings with the Assad authorities.

He denies wrongdoing, and stepped help from FIDE to are attempting and unravel the converse.

But FIDE says Swiss monetary institution UBS closed its accounts as he’s nonetheless sanctioned.

A letter from the Lausanne-basically basically based mostly FIDE’s treasurer, Adrian Siegel, acknowledged the converse modified into as soon as “a serious problem” that had “severely broken” the organisation’s enterprise dealings.

“After more than two years of Kirsan Ilyumzhinow’s [sic] presence on the sanction listing… UBS has launched that they’ll without extend conclude our accounts,” the letter printed on-line reads.

“It modified into as soon as most productive a requirement of time except we face this serious converse.”

The letter provides: “We must see a new monetary institution connection. In the approach of this commerce we sit down up for a couple problems.”

Mr Ilyumzhinov is yet to suppose on FIDE’s letter. He’s nonetheless listed because the organisation’s president on its web situation.

In March 2017, Mr Ilyumzhinov modified into as soon as quoted by Russia’s Tass news company as announcing that FIDE, the governing physique of global chess competitions, modified into as soon as looking to “oust” him after an announcement on or no longer it is web situation acknowledged he had resigned.

“I allege there is an American hand on this, and I allege or no longer it is known as a pickle-up,” he acknowledged.

Mr Ilyumzhinov, a old businessman and flesh presser, has long been seen as an eccentric character.

He modified into as soon as president of the Republic of Kalmykia, a dinky Buddhist pickle of Russia which lies on the shores of the Caspian Sea, for 17 years.

He as soon as claimed on television to ranking met aliens on board a spaceship.

As head of the World Chess Federation since 1995, he has spent tens of tens of millions of bucks turning the impoverished republic into a mecca for chess gamers – building a complete village to host global tournaments.

But in November 2015, the US Treasury Department placed him on a sanctions listing for “materially helping and performing for or on behalf of the Executive of Syria”.

The listing also involves a intermediary accused of facilitating Syrian authorities oil purchases from the Islamic Suppose neighborhood.

The World Chess Federation says Mr Ilyumzhinov “has unsuccessfully tried lots of times to be eliminated from this listing and for the time being there is no longer this form of thing as a hint the least bit that there’ll be a commerce”.

They are saying he urged the organisation on “varied occasions that he’ll be eliminated from the sanction listing in the very conclude to future”, which is why the monetary institution allowed their accounts to dwell open except now.

UBS urged The Telegraph newspaper that it does no longer suppose “on whether people or organizations are customers of UBS”, nonetheless that it follows “all licensed guidelines and rules which can perhaps perhaps be applicable to us”.

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