Ukraine demands US and EU banks stop working with Russia.

Monday, July 18, 2022
Ukraine demands US and EU banks stop working with Russia.

 At least four Western banks, JPMorgan, HSBC, Citigroup, and Crédit Agricole, received letters from Ukraine demanding they cease cooperation with Russia in the oil sector. Ukraine justified its position by the fact that granting loans to companies that supply Russian oil leads to a prolongation of the war. As noted by Oleg Ustenko, economic adviser to the President of Ukraine, on whose behalf the letters were sent, the Ministry of Justice will file a lawsuit against the banks at the International Criminal Court after the war’s end. Special services of Ukraine are already collecting information about financial institutions that support trade in Russian fossil fuels. The letters to the banks also state that they will be prohibited from participating in the post-war reconstruction of Ukraine in the event of further cooperation with Russia.

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