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From the BBC:
"The World Chess Federation (FIDE) says its Swiss bank accounts have been closed after its president was accused of facilitating transactions on behalf of the Syrian government. Russian millionaire Kirsan Ilyumzhinov was added to a US Treasury Department sanctions list in 2015 for his alleged dealings with the Assad government. He denies wrongdoing, and stepped back from FIDE to try and resolve the issue. But it says Swiss bank UBS closed its accounts as he is still sanctioned. A letter from the Lausanne-based FIDE's treasurer, Adrian Siegel,"
Hopefully now this will spell the end of Ilyumzhinov's grip on FIDE and make way for new leadership.