Ukraine will impose sanctions on the Ukrainian subsidiaries of Russian state-owned banks, the central bank said Wednesday, part of a wider crackdown over increased tensions in eastern separatist regions.
The restrictions will ban the banks from taking money out of Ukraine, Kateryna Rozhkova, a deputy central bank chief, told journalists in a briefing.
Five Russian state-owned banks are present in Ukraine with a combined market share of 8.6 percent and liabilities of 36 billion hryvnia ($1.3 billion). Sberbank, VEB and VTB are among the top 20 largest lenders.
The banks have already been banned from increasing their assets and deposits following a …read more
Source: Voice of America
