In the third year of war President Poroshenko greenlights sanctions against Russian banks

Ukrainian President Petro Poroshenko has given a go-ahead to imposing sanctions against Russian banks, according to TSN news service.

The president approved sanctions by adopting the decision of the National Security and Defense Council of March 15, 2017 ”On the application of personal special economic and other restrictive measures (sanctions)” against Russian banks, TSN reports.

Earlier, the NSDC on March 15 instructed the National Bank of Ukraine and the Security Service to submit within 24 hours their proposals on sanctions against banking institutions where state banks of the Russian Federation have a share.

Later, the National Bank said it proposed to impose sanctions on the subsidiaries of Russian state-owned banks in Ukraine in the form of a ban on the withdrawal of capital outside the country.

The sanctions will affect the subsidiaries of state-owned Russian banks, including Sberbank, Prominvestbank, VTB Bank, BM Bank, and VS Bank.

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