The National Bank of Ukraine proposed to ban subsidiaries of Russian banks from withdrawing money outside Ukraine, including conducting operations in favor of parent companies.

Deputy head of the National Bank Yakov Smoliy said that these are five financial institutions - Sberbank, VTB, Prominvestbank (owned by Vnesheconombank), VSbank (subsidiary of Sberbank) and BM Bank (owned by VTB).

“The sanctions proposed by the National Bank will not affect clients - legal entities and individuals working in Ukraine. The sanctions proposed by the National Bank will not stop settlements between counterparties of our clients. Banks are not going anywhere, they continue to work in the legislative field of Ukraine,” said Kateryna Rozhkova, Deputy Chairman of the Board of the National Bank of Ukraine.

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In recent days, a series of actions have taken place in Ukraine against the subsidiaries of Russian banks. The central office of Sberbank in Kyiv was walled up with concrete blocks, the Alfa-Bank branch on Khreshchatyk was pelted with stones, dozens of ATMs in different cities of Ukraine were flooded with polyurethane foam. Participants of the protests demand the termination of economic cooperation with Russia.
On March 15, the National Security and Defense Council of Ukraine instructed the National Bank and the SBU to develop sanctions against Russian banks within 24 hours.
At the same time, Ukraine introduced a transport blockade of the DPR and LPR. All cargo transportation was banned. The Ministry of Internal Affairs of Ukraine assured that the ban does not apply to the movement of individuals.

Ukraine will prohibit subsidiaries of Russian banks from withdrawing money from the country