Are The Maldives Closing Their Borders To Russians?

The largest bank refused to accept payments for vacations on the islands.

The Maldives’ largest bank—the Bank of Maldives—has begun refunding payments for accommodations made by Russian tourists, according to the Russian Union of Travel Industry (RST). According to the association, companies first encountered refunds on October 18 when paying for hotel reservations. The money was being refunded even when the payments were made by foreign legal entities. The RST suggested that the bank may be classifying payments for Russian tourists’ accommodations as transactions related to Russia.

In light of the situation, the union asked the Ministry of Economic Development and the Russian Embassy in the Maldives to consult with local authorities to ensure uninterrupted payments for tourism services. The association noted that refunds lead to additional expenses for tour operators and may complicate the accommodation of travelers. For example, hotels that have not received payment are requiring tourists to pay for their stay again, threatening to refuse check-in if they do not, explained Dmitry Arutyunov, CEO of “ART-TOUR” .

The Bank of Maldives confirmed that it does not process money transfers related to or involving Russia. “According to our current policy, Russia is on the list of countries with restricted access for money transfers,” — a spokesperson for the organization told RBC the organization’s press office.

Payment refunds and uncertainty regarding payment terms could lead to a decline in tourist traffic to the Maldives, according to RST board member Artur Muradyan. At the same time, the Association of Tour Operators of Russia (ATOR) noted that only some tour operators faced difficulties with transfers, while most member companies experienced only isolated incidents. “In any case, tourists’ vacations in the Maldives are proceeding as planned, and internal payment issues are being resolved without involving the tourists,” ATOR stated.

The Maldives is a popular tourist destination among Russians. From January through August, more than 198,000 Russian tourists visited the archipelago in the Indian Ocean. This accounts for nearly 15% of all foreign tourist arrivals, said Mohamed Amin, the Maldives’ Minister of Tourism and Civil Aviation. He predicted that a total of 300,000 Russians would visit the Maldives this year. At the same time, Amin emphasized that Russian citizens are particularly important for the premium segment of tourism on the islands.

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