KIEV, May 12. /TASS/. President Vladimir Zelensky of Ukraine has backed the National Security and Defense Council’s decision to seize the subsidiaries of Russia’s Sberbank and VEB in Ukraine, according to a bill published on the parliament’s website Thursday.

In a decree, Zelensky backed the council’s May 11 decision on the expropriation of Russia’s and its entities’ property and assets in Ukraine. The presidential decree approves the expropriation of 99.77% in VEB-owned Prominvestbank and 100% in the International Reserve Bank owned by Sberbank. The financial assets belonging to the subsidiaries of these Russian banks are also subject to expropriation.

Under the decree, Ukraine will also seize the loans the affiliated structures have issued to Ukrainian state-controlled companies of strategic importance, including the Ukrzaliznytsia railroad company and the Artem holding company. The total debt Ukrainian companies owe to the two banks was reported to amount to 10 billion hryvnias ($330 million).