: :inin Kyiv (EET)

National Bank of Ukraine enforces sanctions against Russian banks` subsidiaries

According to the decision of the National Security and Defense Council, the National Bank of Ukraine on March 23 imposes sanctions on subsidiaries of Russian state-owned banks, according to the NBU press service.

”The Board of the National Bank of Ukraine on March 21 approved Decree No. 25, aimed at ensuring the implementation of sanctions imposed on the banks specified in the NSDC decision,” the statement reads.

Sanctions prohibit any of these banks` financial transactions to related persons, their parent structures in particular.

Earlier, on March 16, President of Ukraine Petro Poroshenko signed a decree bringing into effect the NSDC decision on imposing sanctions for a one-year period in respect of subsidiaries of Russian state-owned banks, namely Sberbank, Prominvestbank, VTB Bank, BM Bank, and VS Bank.

At the same time, according to the National Bank, said sanctions would not prevent additional capitalization of subsidiaries by their parent companies and their sale to new investors, as well as servicing their clients.


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