The Ukrainian Parliament has approved sanctions against all Russian financial institutions.

Friday, February 24, 2023
The Ukrainian Parliament has approved sanctions against all Russian financial institutions.

 According to the Committee on Tax and Customs Policy, Ukraine approved special sectoral economic sanctions for a period of 50 years for all banks registered and located in the Russian Federation. These include the Central Bank of Russia, non-bank credit organizations, operators of payment systems, professional stock market participants, insurance companies, investment funds, and other financial institutions that are registered and provide services in Russia. The sanctions include the suspension of transactions with assets belonging to financial institutions of the Russian Federation, the prohibition of establishing business relations including correspondence, a ban on concluding agreements, and making investments that favor the financial institutions of the aggressor country. In addition, the purchase of securities and other financial instruments issued by Russian financial institutions is also prohibited.

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