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National Bank of Ukraine prohibits subsidiaries of Russian banks to process financial transactions in favor of controlling structures
20:50, 22 March 2017
National Bank of Ukraine prohibits subsidiaries of Russian banks to process financial transactions in favor of controlling structures

The according amendment was adopted by the decision of National Security and Defense Council

20:50, 22 March 2017

National Bank of Ukraine

National Bank of Ukraine banned subsidiaries of Russian banks from processing financial transactions in favor of controlling structures by the decision of National Security and Defense Council (NSDC), according to regulator’s order.

The board of National Bank adopted an order #25 on March 21, which allows to impose sanctions against banks specified in the decision of NSDC. Sanctions prohibit carrying out any financial operations for these banks in favor of affiliated companies, mother companies in particular.

As it was reported earlier, National Bank was developing sanctions mechanism against Sberbank, Prominvestbank, VTB, BM Bank and VS Bank.

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