Published: 17.08.2026
German broker Scalable Capital notified some clients with Russian or Belarusian citizenship that their accounts would be terminated, citing sanctions risks and stricter payment-monitoring requirements. The measure affected some clients with German residence permits and dual citizenship; the company indicated that holding an EU passport would allow the account to remain open.
According to the source, EU sanctions themselves do not prohibit investment firms from serving Russian nationals permanently resident in Europe, but the broker applied its own risk-management policy. For people relocating to Germany, this means that a residence permit, employment and tax compliance do not guarantee continued access to every European investment provider, especially for Russian or Belarusian citizens. Affected clients have had to transfer their assets to other brokers; missing the transfer deadline may result in securities being converted into cash and may create tax consequences. The issue is particularly relevant to Russian and Belarusian citizens who hold investments with European brokers or plan to open such accounts after relocating.