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Ukraine Central Bank introduces sanctions against ‘daughters’ of Russian banks

From March 23, the National Bank of Ukraine (NBU) imposes sanctions on the "daughters" of Russian state-owned banks by decision of the National Security and Defense Council.
Ukraine Central Bank introduces sanctions against ‘daughters’ of Russian banks

“The National Bank has developed Resolution No. 25, aimed at ensuring the implementation of sanctions applied to the banks specified in the decision of the National Security and Defense Council,” NBU said in a statement, Joinfo.com reports with reference to Ukrainska Pravda.

Sanctions forbid these banks to conduct any financial operations with related entities, in particular, the parent structures.

It should be recalled that on March 16, Ukrainian President Petro Poroshenko put into effect the decision of the National Security and Defense Council of March 15 “On the application of personal special economic and other restrictive measures” against a number of legal entities.

It was noted that the decree comes into force from the date of its publication.

Sanctions will be applied for a period of one year to Sberbank, Vieste Bank, Joint Stock Commercial Industrial and Investment Bank, VTB Bank, BM Bank.

See also: Donbas blockade HQ gives two weeks to close Russia’s Sberbank in Ukraine.