Placing of VTB, Sberbank of Russia's subsidiaries to sanction list not to affect operation of Ukrainian banks
Placing VTB Bank (Ukraine) and public joint-stock company Sberbank (Ukraine) on the list of organizations hit by the U.S. sectoral sanctions would not affect the operation of these banks, the banks have reported.
"Placing and public joint-stock company Sberbank on the sanction list does not affect the conditions of operation of the institution. Sberbank is operating normally and has required resources, management experience and expertise to continue successful operation, fulfill all its liabilities to clients and partners and observe the requirements of national and international laws. The bank has stable liquidity and a long-term development strategy in Ukraine," the press service of Sberbank reported.
The press service of VTB Bank (Ukraine) said that the inclusion of the bank into the list of organizations hit by the U.S. sectoral sanctions does not change the legal effect and volume of sanctions that have been in effect since September 2014.
"VTB Bank (Ukraine) continues functioning normally, all clients' payments, including in foreign currency, are settled in full amount and in accordance with the terms. The bank retains high liquidity and capital level. The said sanctions restrict only the attraction of capital from the United States for the period of over 30 days," the bank said.
The bank raises funds inside the country and has support of the parent company – VTB Bank.