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Commemorative banknote entitled “WE WILL NOT FORGET! WE WILL NOT FORGIVE!” celebrates fortitude and heroism of Ukrainians
Commemorative banknote entitled “WE WILL NOT FORGET! WE WILL NOT FORGIVE!” celebrates fortitude and heroism of Ukrainians (2)
Commemorative banknote entitled “WE WILL NOT FORGET! WE WILL NOT FORGIVE!” celebrates fortitude and heroism of Ukrainians (3)
Commemorative banknote entitled “WE WILL NOT FORGET! WE WILL NOT FORGIVE!” celebrates fortitude and heroism of Ukrainians (4)

Commemorative banknote entitled “WE WILL NOT FORGET! WE WILL NOT FORGIVE!” celebrates fortitude and heroism of Ukrainians

On 23 February 2023, Andriy Pyshnyy, Governor of the National Bank of Ukraine, presented a new commemorative banknote entitled “WE WILL NOT FORGET! WE WILL NOT FORGIVE!” This banknote commemorates Ukraine’s struggle against the russian invaders and celebrates the fortitude, resilience, indomitability and heroism of Ukrainians.

"We could not help but mark this date, the anniversary of the full-scale invasion, this dramatic, shocking and bullet-ridden year of our lives,” said Pyshnyy. “This is a war that’s been going on for us not for a year, not for a decade, but for centuries. That’s why we decided to commemorate our collective struggle on a banknote. Today, the NBU presents a commemorative banknote that was created as a reminder of Ukraine’s war for independence and sovereignty. We called this banknote ‘WE WILL NOT FORGET! WE WILL NOT FORGIVE!’ This name does not need any explanation, as it’s understandable and familiar to every Ukrainian. It says: we’re holding on, and we’ll win.”

About the banknote

This 20-hryvnia commemorative banknote was issued into circulation on 23 February 2023.

This banknote is unique and differs from other Ukrainian banknotes, because it has a bright and expressive design, which is printed vertically.

The banknote has the series ЗС, with serial numbers from 0000001 to 0300000. It also bears the signature of Andriy Pyshnyy, Governor of the National Bank of Ukraine.

It is legal tender in Ukraine and shall be accepted for all payments at its face value by all individuals and legal entities, without any limitations, across Ukraine.

At the same time, its issue numbers are limited to 300,000 units, which gives collectible value to the banknote (of which 200,000 units are in souvenir packaging and 99,900 are in envelopes).

This banknote will be sold through the NBU’s online numismatic store. Banknotes from the first batch will be available for purchase from 24 February 2023. Then, as more banknotes are produced, they will be added to the product range of the online store in order to satisfy the needs of the greatest possible number of customers. What is more, from late March, these banknotes will also be available for purchase in distributing banks.

Security features

This commemorative banknote has security features that are incorporated in other circulating banknotes. These are: a multi-tone watermark and a light watermark element, a security thread that is fully imbedded into the paper, a see-through register, OVI and SPARK features, relief features, in particular a feature for the partially sighted, microlettering, as well as UV, infrared and magnetic features.

The banknote also has additional modern optically variable security features, such as:

  • a 12 mm wide polymer thread that has a combined optically variable effect, which can be seen when the note is tilted
  • a feature made with iridescent paint that has a mother-of-pearl effect.

The banknote is sized 80 x 165 mm.

Banknote design

The main image of the front of the note are three Ukrainian soldiers who are hoisting a Ukrainian state flag (photo entitled “Ukrainian soldiers are hoisting a flag” by Oleksandr Smirnov) against the backdrop of fragments of a map of Ukraine and the flags of the countries that support Ukraine.

Above are the following texts (with a laurel wreath between them) in Ukrainian and English:

"24 лютого 2022 року повномасштабним вторгненням російської армії розпочався новий етап збройної агресії проти України. Народна війна за незалежність і суверенітет України триває з 2014 року. Це також війна за цивілізаційний вибір: Україна відстоює свою приналежність до європейської цивілізації і водночас – ті засадничі цінності, права і свободи, що лежать в основі західного світу;

On 24 February, a new stage of armed aggression against Ukraine began with a full-scale invasion of Ukraine by the russian army. The people’s war for the independence and sovereignty of Ukraine has been going on since 2014. This is also a war for a civilizational choice: Ukraine is defending its place in European civilization, and at the same time fighting for the fundamental values, rights and freedoms that underpin the Western world".

Under the laurel wreath are the legend І НА ОНОВЛЕНІЙ ЗЕМЛІ ВРАГА НЕ БУДЕ... (And on the renovated land, there’ll be no enemy...) and a polymer thread containing the symbol of the hryvnia, the logotype of the National Bank of Ukraine, the shoulder patch of Ukraine’s Armed Forces, the emblem Ukraine’s Armed Forces and the legend СЛАВА УКРАЇНІ, ГЕРОЯМ СЛАВА (Glory to Ukraine, Glory to the Heroes).

The banknote’s face value 20 is beneath to the left, while the vertical legend ДВАДЦЯТЬ ГРИВЕНЬ (twenty hryvnias) is to the right of the soldiers. There is also a stylized steppe with poppies symbolizing Ukraine’s dead defenders.

The main image of the back of the note is a stylized composition that symbolizes the physical and mental suffering of Ukrainians under occupation – hands tied behind a person’s back, against the background of crumpled cloth, behind which a figure with a bullet wound in the form of a poppy is suggested (designed by Serhii Mishakin); on both sides of the figure are stylized wings made from candle flames; above, against the backdrop of the outlines of destroyed houses is a crown of thorns that stands for martyrdom; to the right of the crown is a security feature – a colored composition consisting of a guilder rose and an anti-tank hedgehog.

The back of the note also features the legend “ПАМЯТАЄМО! НЕ ПРОБАЧИМО! НІКОЛИ!” (We will not forget! We will not forgive! Never!) (under the crown of thorns), while also depicting a kind of illusion – stylized poppies that stand for bloody bullet wounds.

This banknote was designed by Ukraine’s Honored Artist Volodymyr Taran.

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