: :inin Kyiv (EET)

Federation Council in Russia approves ban on money transfers to Ukraine

The Federation Council on Wednesday endorsed a bill prohibiting money transfers from Russia to Ukraine via international payment systems, Prime news agency reports.

According to the law, in case a foreign state enforces bans on Russian payment systems, cross-border money transfers without opening a bank account will only be possible from Russia to such a state on condition that the operator of the payment system, the operators of payment infrastructure services are directly or indirectly controlled by the Russian Federation, according to Prime.

The law should enter into force 30 days after the day of its official publication and apply to restrictions imposed by foreign states before it comes into force.

Earlier, on October 19, Kyiv authorities banned operations of Russia`s payment systems in the territory of Ukraine as part of its sanction policy against the Russian Federation.

Among the sanctioned systems are Kolibri payment system, managed by Sberbank, Zolotaya Korona, Unistream, Leader, Anelik, and Blizko.

March 22, the State Duma of Russia adopted in the third and final reading the bill prohibiting money transfers from Russia to Ukraine via foreign payment systems.


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