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National Bank of Ukraine Extends Sanctions for Certain Banks

The National Bank of Ukraine (NBU) in compliance with the decision of the National Security and Defense Council of Ukraine On Imposition of Personal Special Economic and Other Restrictive Measures (Sanctions) dated 1 March 2018, entered into force by the Decree of the President of Ukraine dated 6 March 2018, extends sanctions imposed on certain banks as follows:

  • Sberbank PJSC;
  • Prominvestbank PJSC;
  • VТB Bаnк PJSC;
  • BM BANK PJSC.

This concerns the ban on banks to transact any financial operations implying transfers or export of capital abroad to banks’ related parties.

The sanctions are intended to safeguard interests of these banks’ customers, as well as to prevent siphoning off capital by banks abroad to parent banks and other related parties.

Also deadlines are to be determined for submitting information under Statistical Reporting Form No. 217 Report on Bank Accounts and Respective Account Balances of Individuals and Legal Entities Subject to Restrictive Measures (Sanctions) Imposed by Ukraine and on Intent to Execute Financial Operations by/on behalf of such Persons in line with the Rules for Statistical Reporting to be submitted to the NBU.

Respective amendments were approved by NBU Board Resolution No. 24 dated 15 March 2018 On Amendments to NBU Board Resolution No. 654 dated 1 October 2015 that enters into effect on 16 March 2018.

For reference

Sberbank of Russia PJSC (Russian Federation), the holder of a subsidiary SBERBANK PJSC in Ukraine;

Bank VTB PJSC (Russian Federation), the holder of two subsidiaries in Ukraine VTB BANK PJSC and BM BANK PJSC;

State Corporation Bank for Development and Foreign Economic Affairs (Russian Federation), the holder of PROMINVESTBANK PJSC.

Decision of the National Security and Defense Council of Ukraine dated 1 March 2018 On Application of Personal Special Economic and Other Restrictive Measures (Sanctions), entered into force by the Decree of the President of Ukraine No. 57/2018 dated 6 March 2018 On the Decision of the National Security and Defense Council of Ukraine dated 1 March 2018 On Application of Personal Special Economic and Other Restrictive Measures (Sanctions).

The Rules for Statistical Reporting to be Submitted to the NBU approved by the NBU Board Resolution No. 129 dated 01 March 2016.

 

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