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Maldives’ largest bank stops processing payments for Russian tourists, prompting hotels to turn them away
The Bank of Maldives has stopped processing payments linked to Russia, leaving some Russian tourists’ hotel payments unsettled and prompting hotels to ask guests to pay again or refuse accommodation. The disruption has led Russia’s tourism industry and government to seek talks with Maldivian officials.
The Russian Union of Tourism Industry said the bank had been returning payments since late October, and market participants estimated that about $2 million was held up by 6 November. Hotels ultimately provided rooms to affected tourists after they paid a second time. The bank said Russia is on its list of countries with restricted access for transfers, while the Maldives is among Russian tour operators’ top 10 destinations; an average booked tour there cost 585,600 roubles in November, compared with 246,000 roubles for Egypt.
In short
- Maldives’ biggest bank has blocked Russia-linked transfers.
- About $2 million in payments was held up by 6 November.
- Some tourists had to pay hotels twice to get rooms.
Steelman: both sides, in good faith
The strongest fair case each way — we don't pick a winner.
The case for
A bank may restrict payments linked to a country to manage legal, sanctions-related or financial risks, and it may be required to do so by rules governing its international transactions. Applying such limits can protect the bank and the wider payment system from penalties or disruptions, even when the effects on individual travellers and hotels are serious.
The case against
Blocking payments that tourists have already made can leave travellers facing duplicate charges or loss of accommodation, while hotels bear the cost and uncertainty of resolving unsettled bookings. Critics can argue that a broad restriction is disproportionate if it disrupts ordinary travel payments without clear notice or a workable alternative, and that the bank and officials should promptly clarify the rules and help affected customers.
Explained simply
The Maldives is an island country whose economy depends heavily on tourism. Many visitors book hotels and holidays through travel companies, with payments often crossing borders and involving banks in both the traveller’s and hotel’s countries.
The Bank of Maldives is the country’s largest bank and handles payments for local businesses, including hotels. Russia’s tourism industry and government have sought talks with Maldivian officials after some payments connected to Russian visitors did not reach hotels; the bank says Russia is among the countries subject to restrictions on transfers.
The issue matters to travellers, hotels and tour operators because a delayed or rejected payment can leave a booking unsettled even when a guest has paid. The Maldives is a popular destination for Russian holidaymakers, and resolving payment problems may affect how easily they can book and pay for stays.