NBU enacts sanctions against Russia state banks

The National Bank of Ukraine (NBU) has introduced changes to its regulatory framework to ensure the implementation of restrictive measures adopted by the National Security and Defense Council (NSDC) against Ukraine-based banks with Russian state capital.

Censor.NET reports referring to the NBU press service.

"Sanctions prohibit any financial operations of these banks in favor of tied entities, in particular parent banks," the message says.

In addition, the NBU has banned Ukrainian banks from conducting operations aimed at or furthering the evasion of such sanctions, as well as violating, facilitating or contributing to the violation of such sanctions.

The central bank's resolution No. 25 takes effect on March 23.

Earlier, President of Ukraine Petro Poroshenko approved sanctions against five Russian-owned banks operating in the Ukrainian market.