13:59 26.12.2018

NBU sees no risks over Russia's sanctions against Ukreximbank

2 min read
NBU sees no risks over Russia's sanctions against Ukreximbank

 Sanctions, which the Russian Federation imposed from December 25 against JSC Ukreximbank would not affect its current operations, the National Bank of Ukraine (NBU) has told Interfax-Ukraine on Wednesday.

"Respectively, the NBU does not see risks for the operation of the banking sector, which is enough capitalized and has enough liquidity," the central bank said in a response to Interfax-Ukraine's inquiry.

As reported, the Russian Federation on December 25 added seven companies to the sanctions list of legal entities, including Ukrainian defense enterprises (the Ukroboronprom state concern and Ukrspecexport state-owned enterprise), the Ukrainian State Export-Import Bank, Centrenergo, one of the largest Ukrainian power-generating companies, the TAS Insurance Group under control of businessman Sergiy Tigipko, and several transport logistic organizations (the Vertical forwarding company belonged to Roman Vasylevsky and the First Logistic Company).

Regarding legal entities and individuals placed to the list, and organizations under their control, their noncash money, securities and property are blocked on the territory of the Russian Federation and the prohibition on the withdrawal of capital outside Russia is introduced.

At the same time, the Ministry of Finance of the Russian Federation received the right to grant temporary permits to conduct certain operations in respect of legal entities to which special economic measures are applied.

Ukreximbank, a wholly owned state bank, was established in 1992. It ranked third among 82 banks in Ukraine in terms of total assets worth UAH 163.956 billion as of October 1, 2018, according to the NBU.

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