Ukraine says it will extend sanctions against Russian banks
02 Mar 2018

Ukraine’s Security and Defence Council said on Thursday it had extended sanctions that had been due to expire in March against the Ukrainian subsidiaries of Russian state-owned banks.

Four such banks still operate in Ukraine, including arms of Sberbank, VEB and VTB, which are among Ukraine’s 20 largest lenders. The sanctions include a ban on removing money out of Ukraine.

In a statement, the council said it supported“a suggestion from the central bank to extend the activity of personal, special, economic and other restrictive measures (sanctions) against banks with Russian capital”.

The market share of Russian state-owned banks operating in Ukraine has fallen to 5.6 percent from more than 10 percent in the last three years, according to data cited by President Petro Poroshenko.

– Reuters

Link to the Reuters article here.

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