The FIDE Presidential Board was held throughout the weekend in Minsk, Belarus, and among other items on the agenda, discussed the situation regarding the FIDE bank accounts.
As it was reported earlier, the Swiss bank UBS has announced that they will close the FIDE accounts. The senior management of the bank extended the deadline from the original 28th February, 2018 to 30th April, 2018, but were unwilling to extend until the FIDE elections on 3rd October, 2018.
Prof. Adrian Siegel, the FIDE Treasurer and Nigel Freeman, the FIDE Executive Director advised that they had approached many other banks both in Switzerland and outside and had met with several. However, all said that although they were willing to have FIDE as a client, they were unable to do so whilst its President was on the US sanctions list.
The Presidential Board recognised the dire operational situation FIDE was in because the President was under US Sanctions and passed the following resolution to ask the President to resign by 14 votes to 1 with no abstentions:
The Presidential Board has resolved:
In the light of:
a) The imminent withdrawal of FIDE’s banking facilities by UBS,
b) The inability of FIDE to obtain replacement banking facilities while you remain nominal President and
c) subject to US Treasury Department sanctions,
d) The consequent severe difficulties facing FIDE in funding its obligations and its commitments to the chess family,
e) The adverse publicity that reflects badly on FIDE’s reputation and undermines the confidence of all those who are or
would be involved in chess,
That in the interests of the organisation:
You should resign with immediate effect.
Makropoulos, Georgios Deputy President
Tolentino, Abraham General Secretary
Fierro, Martha Vice President
Siegel, Adrian Treasurer
Bastian, Herbert Vice President
Kambuzia, Mohammed Vice President
Marinello, Beatriz Vice President
Sundar, D.V. Vice President
Al-Hitmi, Khalifa Vice President
Gelfer, Israel Vice President
Kutin, Boris Vice President
Tulay, Gulkiz Vice President
Ochoa, Javier Hon. Vice President
Ramirez, Mario Hon. Vice President
Vega, Jorge President of Americas
Azmaiparashvili, Zurab President of ECU