Poroshenko sanctions banks holding Russian capital

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March 16, 2017 – Fort Russ News

– Lenta.ru, translated by Tom Winter –

President of Ukraine Petro Poroshenko has approved sanctions against Ukrainian banks with Russian capital: now they are prohibited from withdrawing money in favor of their parent structures. This has been published on the website of the head of state, dated Thursday, March 16.

The sanctions will be in force for one year. They apply to the Ukrainian Sberbank, Vieste Bank, Joint-Stock Commercial Industrial and Investment Bank, VTB, and BM Bank.

“The Cabinet together with the National Bank of Ukraine should ensure the implementation and monitoring the effectiveness of the sanctions. (…) The control of the implementation of the decision is assigned to NSDC Secretary Alexander Turchinov,” said the presidential site.

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Earlier on March 16, Kremlin spokesman Dmitry Peskov said that the Russian Federation would, if necessary, protect the interests of banks with Russian capital in Ukraine. According to the Ministry of Finance, banks with Russian capital are the only healthy part of the Ukrainian financial system.

On March 14, the Russian Foreign Ministry said that the creation of problems for these financial structures could become a “shot in the foot” for the Ukrainian regime.

Last week, Sberbank of Russia announced the beginning of customer service on the passports of the self-proclaimed Donetsk and Lugansk People’s Republics. At the same time, the Minister of Internal Affairs of Ukraine Arsen Avakov said that the subsidiary of Sberbank should stop working in Ukraine, and the NBU should immediately impose sanctions against it.

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