Ukraine imposed sanctions against all Russian banks

The National Security and Defense Council (National Security and Defense Council) and the President of Ukraine Vladimir Zelensky supported the proposals made by the National Bank of Ukraine (NBU) on the application of sectoral sanctions in relation to all registered or location of banks in Russia, including the Central Bank of the Russian Federation, insurance companies and other non -bank financial institutions.

The corresponding decree of the President on the approval of the decision on the SNBO “on the application of sectoral special economic and other limiters of measures (sanctions) to financial institutions of the Russian Federation” was approved for the approval of the Verkhovna Rada.

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According to the text of the document on the parliament website, sanctions are introduced for 50 years.

They include 10 points, including: stopping transactions with assets belonging to the financial institutions of the Russian Federation; prohibition of the establishment of business relations, including correspondent; The ban on transactions and investments in favor of the financial institutions of the Russian Federation.

The list also contains a ban on the purchase of securities and other financial instruments, whose issuers are financial institutions of the Russian Federation, with the exception of the alienation (including gratuitous) securities in favor of the state of Ukraine.

In addition, among the sanctions, the stop of the fulfillment of economic and financial obligations in favor of the financial institutions of the Russian Federation, including the transfer of dividends, interest and other payments on assets attracted to Ukraine, stop the service of electronic payment funds (including transfers, calculations and issuance cash) issued by financial institutions of the Russian Federation.

The decree also involves cancellation of registration and the ban on new registrations by the National Bank of the International Payment System, the operator of which is the financial institution of the Russian Federation, and its participants, as well as a participant in the financial institution of the Russian Federation of the international payment system, the operator of which is the resident of Ukraine.

“prohibit individuals and legal entities to carry out operations (perform actions) leading to violation, avoiding the restrictions introduced,” the document is indicated.

The Ministry of Foreign Affairs of Ukraine is instructed to inform the competent authorities of the EU, the USA and other states on the application of sanctions.