National Bank of Ukraine (NBU) has brought its requirements in line with the
Decision of the National Security and Defense Council of Ukraine (NSDC) On the Application and Amendment of Personal Special Economic and Other
Restrictive Measures (Sanctions) dated 21 June 2018 that
was introduced by Presidential Decree
No. 176/2018 dated 21 June 2018.
pursuant to paragraph 4* of this Decision the NBU has prolonged the mechanism for the
implementation of NSDC sanctions by banks, non-bank institutions, national postal services provider, and
the NBU allowed entities subject to the sanction “preventing the capital
outflow from Ukraine” to meet their liabilities to Ukrainian counterparties, as
well as conduct mandatory payments to the budget, payment of wages, etc.
respective amendments were approved by NBU Board Resolution No. 73 On
Amendments to NBU Board Resolution No. 654 dated 1 October 2015
dated 3 July 2018. The
amendments shall enter into effect on 4 July 2018.
*Paragraph 4 of the Decision of 21 June 2018 provides for the Cabinet of
Ministers of Ukraine together with the Security Service of Ukraine and the NBU
to implement and monitor the effectiveness of personal special economic and
other restrictive measures (sanctions) imposed on entities, as set out in paragraph 2
of this Decision.