 In February 2018, FIDE announced that their bank accounts were closed by the Swiss bank UBS as a result of the sanctions.The letter published by FIDE Treasurer Adrian M. Siegel reported that the white-money strategy in Switzerland does not allow to do business with people on the sanction list of the United States Department of the Treasury.Furthermore, it was revealed that the Presidential Board unanimously decided to take measures on transferring mitigate the risk by transferring Ilyumzhinov's duties to FIDE Deputy President Makropoulos in December 2015.