Sanctions are implemented for a period of 50 years and will be applied to all banks registered and located in the Russian Federation.
The Verkhovna Rada supported the presidential decree on the application of economic sanctions against all financial institutions of the Russian Federation, People’s Deputy Yaroslav Zheleznyak reported in Telegram.
According to him, 325 deputies voted for the relevant decision.
“Sanctions are imposed for a period of 50 years and will be applied to all banks registered and located in the Russian Federation, in particular: the Central Bank of Russia; non-bank credit organizations, payment system operators; professional stock market participants; insurance companies; investment funds; other financial institutions that are registered and provide services in the Russian Federation,” Zheleznyak noted.
Sanctions of Ukraine against Russian banks – what is known
The day before, President Volodymyr Zelenskyi submitted to the Council a draft resolution approving the NSDC’s decision to introduce sanctions against financial institutions of the Russian Federation.
Restrictions are imposed for a period of 50 years against, in particular, the Central Bank of the Russian Federation, non-bank credit organizations, payment system operators, professional market participants, insurance companies, investment funds and other institutions registered/located in the Russian Federation that provide financial services.
In particular, the suspension of transactions with assets belonging to the banks of the Russian Federation, the prohibition of establishing business relations (in particular, correspondent relations with the banks of the Russian Federation, the prohibition of entering into agreements with the banks of the Russian Federation and other measures.
The 10th package of sanctions – the EU is preparing new restrictions against the aggressor
The European Union plans to introduce the 10th package of sanctions against Russia before the anniversary of the Russian Federation’s full-scale invasion of Ukraine.
On February 15, 2023, the European Commission officially presented the tenth package of sanctions against the Russian Federation.
EU countries have asked for new sanctions to limit the bloc’s nuclear fuel cooperation with Moscow, ban imports of Russian diamonds and cut trade with Kremlin ally Belarus.