Poroshenko approves prolongation of sanctions against Russian-owned banks

The relevant decree is published on the website of the Head of State.

"To enact the decision of the National Security and Defense Council of Ukraine of March 1, 2018 "On the Imposition of Individual Special Economic and Other Restrictive Measures," the document reads.

According to the decision of the Security Council, the restrictive measures aim "to prevent the capital outflow from Ukraine in favor of the persons that are linked with the banks.” The sanctions are imposed on Sberbank, Joint-Stock Commercial Industrial & Investment Bank, VTB Bank and BM Bank for a one-year period.

The National Security and Defense Council of Ukraine decision also notes that the Ministry of Foreign Affairs of Ukraine should inform the relevant authorities of the European Union, the United States of America and other states about the imposition of sanctions and raise the issue of introduction of similar restrictive measures.

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