The US has launched an investigation into Russian clients of UBS who were served by Credit Suisse.
The bank was suspected of violating sanctions legislation.
UBS has held talks with the US Office of Foreign Assets Control (OFAC), Reuters reported, citing sources.
The sources said OFAC had contacted the bank in recent weeks to warn it of potential consequences for violations.
Until February 2022, Russian clients preferred to open accounts with Credit Suisse.
At the peak of activity, Russian assets exceeded $60 billion. By the time the bank went bankrupt in 2023, this amount had decreased to $33 billion.
After Credit Suisse went bankrupt, it was acquired by UBS. Now the bank, led by Sergio Ermotti, is auditing its assets and getting rid of clients with ties to Russia.
Moreover, in September last year, the US stepped up its investigation into Credit Suisse's work.
OFAC does not rule out that Russian clients may have been able to circumvent sanctions.
