EU High Representative for Foreign Affairs and Security Policy and European Commission Vice President Federica Mogherini has said that the nationalization of PrivatBank ensures that all Ukrainian banks meet the same regulatory standards.

Mogherini said at a joint press conference with Ukrainian First Deputy Prime Minister and Economic Development and Trade Minister Stepan Kubiv in Brussels on Monday that the efforts of the PM, the president and the government are bold steps to restore confidence in the financial sector by nationalizing PrivatBank. She said this should help to ensure that all banks in Ukraine meet the same regulatory standards, and will make the banking sector more stable.