US broker Interactive Brokers (IBKR) has banned clients from Russia and Belarus from opening new positions with EU securities, the company said yesterday.

“The governments of the US, UK, EU and other countries have imposed sanctions against Russia and Belarus in response to the escalating situation in Ukraine. These include EU sanctions that prohibit the sale or transfer of EU securities issued after April 12, 2022 to Russian or Belorussian citizens or persons located in those countries. To comply with these EU sanctions, IBKR has restricted citizens or residents of Russia and Belarus, as well as entities domiciled in these countries, from opening new positions (long or short) in EU securities,” the statement said.

“In addition, incoming and outgoing transfers are also restricted,” it added.

The restrictions came into effect on June 13.