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National Bank of Ukraine extends sanctions against Russian banks

March 15, 21:38 UTC+3 KIEV

The sanctions apply to Sberbank, VS Bank, Prominvestbank, VTB Bank and BM Bank

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KIEV, March 15. /TASS/. The National Bank of Ukraine has extended sanctions against Russian banks, the regulator’s press-service reported on Thursday.

"Implementing the decision of the National Security and Defense Council of March 1"On application of personal special economic and other restrictive measures (sanctions)" that came into effect by the decree of the President of Ukraine, the NBU continues to enforce sanctions against certain banks, in particular, Sberbank, VS Bank, Prominvestbank, VTB Bank and BM Bank," the press service said.

According to the statement, these banks with Russian capital are banned from carrying out any financial operations that involve the transfer of funds or the withdrawal of capital outside Ukraine in favor of the persons connected with them.

Earlier, Ukrainian President Pyotr Poroshenko said that in 2017 the net assets of Ukrainian banks with Russian state capital decreased by one third, while the volume of funds of individuals and legal entities placed there decreased by 28 and 34%, respectively.

In March 2017, Ukrainian President Pyotr Poroshenko imposed sanctions against five banks with Russian capital for a year. Sberbank, VTB, Prominvestbank and BM Bank (owned by VTB) came under sanctions.

After the introduction of restrictions, Russian banks announced plans to sell their assets in Ukraine. VS Bank was sold at the end of last year to Ukrainian businessman Sergei Tigipko.

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