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National Bank of Ukraine Introduces Control of Nonbank Financial Institutions and Postal Service Operators

29 March 2019

 

For the purposes of immediate response to current or potential threats to national interests, national security, and territorial integrity, the National Bank of Ukraine (NBU) has improved the procedure for implementation of sanctions*. In particular, control was introduced of nonbank financial institutions and postal services operators regarding submission to the NBU of information on: 

     refusal to execute FX transactions to the persons on sanctions lists that fall under “freezing assets” and/or “ceasing financial transactions” sanctions

     refusal to execute money transfers without opening accounts on the order / for the benefit of the persons on sanctions lists.

 

Respective amendments were approved by NBU Board Resolution No. 53 dated 28 March 2019 On Amendments to NBU Board Resolution No. 654 dated 1 October 2015 that enters into effect on 30 March 2019.

 

 

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*Sanctions are also applied by the Decision of the National Security and Defense Council of Ukraine On the Application, Lifting and Amendment of Personal Special Economic and Other Restrictive Measures (Sanctions) dated 19 March 2019 that entered into force by Decree of the President of Ukraine No. 82/2019 dated 19 March 2019.

 

 


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Last modification   29.03.2019