Home / World / Ukraine to impose economic sanctions against Russian companies

Ukraine to impose economic sanctions against Russian companies

The Ukrainian government will revoke the licenses of 160 Russian companies to deprive them of revenue in the country.

Ukraine to impose economic sanctions against Russian companies

The Ukrainian government introduces new sanctions against Russia. Thus, 160 Russian companies will lose their licenses and permits allowing doing certain activities. It was stated today by Aivaras Abromavicius, Minister of Economic Development and Trade, at the Parliament, Joinfo.ua reports.

According to him, the residents of the Russian Federation, subject to the sanctions imposed by the EU, the United States, Switzerland and G7 countries will be deprived of passive income in the form of royalties and interest within Ukraine. In addition, the Russian companies will not be eligible to participate in the privatization and renting of state-owned enterprises.

The official also noted that the list of entities subject to the sanctions will be published after the relevant Presidential Decree.

It followed the decision of the National Security and Defense Council of Ukraine on joining the sanctions imposed by the US, the EU, Switzerland, and G7, which include such measures as freezing cash accounts and assets of the individuals and entities.

Yesterday, the EU adopted new sanctions against Russia. The sanctions will be applied to 19 persons, including five Russian citizens and nine organizations.

Earlier it was reported that the new EU sanctions against Russia might relate to high-ranking Russian officials, including deputies and deputy ministers.