National Bank offers to impose sanctions against banks with Russian capital

Source : 112 Ukraine

5 banks are subject to sanctions: Sberbank, Prominvestbank, VTB, VSbank, BM Bank
19:01, 15 March 2017

Open source

National Bank of Ukraine (NBU) has offered to impose sanctions against banks with Russian capital. This was reported during the briefing by Yakiv Smolii, the First Deputy Governor of the NBU.

"National has undertaken the according review and proposes the following. In order to preserve the financial stability of Ukraine and ensure that banks with Russian capital fully meet their obligations to customers, the NBU proposes imposing sanctions in the form of a ban on withdrawal of capital outside Ukraine. We offer to impose such sanctions on banks with Russian capital which are currently working in Ukraine. Those are Sberbank, Prominvestbank, VTB, BM Bank and VS Bank," he said.

NBU Deputy Governor Kateryna Rozhkova stressed that the following sanctions will not affect bank’s clients (individuals and legal entities). She also noted that these measures would not stop transactions between client’s counterparts, while banks will continue to work according to Ukrainian law.

Earlier banks with Russian capital were attacked throughout Ukraine. As a result, the subsidiary of Sberbank Russia has imposed restrictions on cash withdrawal limiting the amount of funds to 30 thousand hryvnias (about $1110) or equivalent for one client per day through bank’s cash desks.

Related: National Bank to impose sanctions on Ukrainian affiliate of Russia’s Sberbank

Related: Head of National Bank commented on rumors about her resignation

Related: "Bricking-up" Sberbank: First step to persecution of Ukrainians of Russian origin?

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