NBU insists that imposing sanctions on subsidiaries of Russian banks is inappropriate

14:19, 08.10.2015 1 min read

The National Bank of Ukraine (NBU) has managed to ensure that the subsidiaries of Russian banks undergo additional capitalization and observe the requirements for the operation of banks on the market, and the introduction of economic sanctions against them is inappropriate, First Deputy NBU Head Oleksandr Pysaruk has said.

"When we start applying sanctions against subsidiaries of Russian banks we create problems for ourselves," he said at a press conference in Kyiv on Thursday.

He said that the introduction of economic sanctions is blocking the sale and capitalization of financial institutions, which increases the risks of banks being declared as insolvent.

"We believe that Russian shareholders invest money. If we move subsidiaries [of Russian banks] to the Individuals' Deposit Guarantee Fund the budget will pay," Pysaruk said.