Chess News

FIDE bank account in Spanish Caixa Bank

CaixaBankIn a brief post FIDE announced that a bank account is opened with Caixa Bank, one of the largest banks in Spain.

The normal operation is resumed 11 months after the Swiss bank UBS closed the FIDE accounts due to then FIDE President Kirsan Ilyumzhinov being on the US sanctions list. Kirsan Ilyumzhinov refused to resign from the post to save FIDE the trouble, and even announced he would be running for re-election, famously with a fake American person on the ticket.

After revealed the scandal, the Russian government introduced a new candidate Arkady Dvorkovich, who eventually became FIDE President. The bank account is opened three months after his election.

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