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NBU Calls on International Banking Groups to Cease Business in russia

NBU Calls on International Banking Groups to Cease Business in russia

NBU Governor Kyrylo Shevchenko has called on the leadership of international banking groups to suspend all activities of their subsidiaries and branches in russia and join the global push to thwart the aggressor economy’s capability to finance the war of aggression in Ukraine. After all, any further financial transactions with the institutions based in russia and any taxes paid into its budget can and will abet in the commission of war crimes and acts of terrorism against the civilian population of Ukraine, the NBU Governor said in a statement.

The widening geography of hostilities and terrorist attacks against civilians indicates that the measures taken so far have not been effective. With this in mind, it is important that banking groups around the world bring more pressure to bear on the aggressor to undermine its position. The suspension of business in russia by banking groups that are top players in the global financial services market will amplify the impact of the economic sanctions already imposed on russia by the global community.

"Failure to halt operations in Russia may carry additional reputational risks for your organizations not only in our country, but in Europe as a whole. In its struggle against the occupier, Ukraine has actually galvanized support from the majority of European governments, the international business community, and the people living in these countries," said Kyrylo Shevchenko.

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