On November 17, the Commercial Court of the city of Kyiv refused Alfa-bank in case No. 910/6711/22 on the obligation of Acordbank to sell foreign currency in the amount of 8 million dollars. for Alfa-Bank for UAH 228 million. It was about the fulfillment of obligations under the agreement of “SWOP”, concluded in February 2022 as part of the general agreement No. R-154/2017 dated 09/29/2017. In addition, the court satisfied Acordbank’s counterclaim, terminating the specified agreement with Alfa Bank.
According to the excerpt from the court decision dated 17.11.22, “the plaintiff in the counterclaim [Аккордбанком] the occurrence of a significant change in circumstances was properly substantiated, namely the introduction of martial law due to the military aggression of the Russian Federation, as a result of which a ban was imposed on the National Bank of Ukraine to carry out currency operations, the participant of which is a legal entity or an individual who has a location (registered/permanently residing) in the Russian Federation, as well as an increase in the exchange rate by more than 20%.
We would like to remind you that according to clause 2 of the decision of the National Security Council of Ukraine dated 19.10.2022, personal sanctions have been applied to natural persons who are owners of significant participation in certain banks of Ukraine, in particular ALFA-BANK JSC. Including, the sanction “blocking of assets” is in effect – temporary deprivation of the right to use and dispose of assets belonging to a natural or legal person, as well as assets in relation to which such a person can directly or indirectly (through other natural or legal persons) perform actions identical to realization the right to dispose of them”. The relevant decision of the National Security Council is valid in accordance with Presidential decrees No. 726/2022, No. 727/2022 of October 19, 2022.
The NBU also prohibited Andriy Mykolayovych Kosogov from acquiring a significant stake in ALFA-BANK Joint Stock Company. On October 27, 2022, the Committee on Supervision and Regulation of Bank Activities, Supervision (Oversite) of Payment Systems adopted the relevant decision, taking into account, in particular, the application of personal special economic and other restrictive measures (sanctions) to Andriy Mykolayovych Kosogov in accordance with the decision of the NSDC of Ukraine dated October 19 2022 and, accordingly, the non-compliance of O. M. Kosogov’s business reputation with the requirements of Ukrainian legislation.
