The new requirements should help reveal the hidden presence of the aggressor state in the Ukrainian market.
The National Bank of Ukraine has established requirements for banks to disclose information about customer relationships with Russia. This is stated in the message of the NBU.
It was noted that the NBU now has the right to apply to the bank with a separate request to obtain information about the discovered connections of clients and their counterparts in the aggressor state.
In particular, according to the NBU resolution, banks must collect information about customers who:
are citizens of Russia;
are members of joint-stock companies established in the Russian Federation or whose shareholders and clients are the aggressor state or its citizens;
have business contacts with citizens and residents of Russia, as well as with companies in the aggressor country;
has subsidiaries, branches, representative offices in Russia;
own securities of companies established in the Russian Federation.
The decision applies to all banking institutions – both Ukrainian and foreign branches.
The NBU noted that the collection and documentation of such information will help increase transparency related to bank customers with ties to Russia and reveal the hidden presence of the aggressor state in the Ukrainian market.
Recall that earlier the Verkhovna Rada supported the decision to impose sanctions against all banking and financial institutions in Russia for 50 years.
EU imposes sanctions against three private Russian banks
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I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.