President of Ukraine Volodymyr Zelensky today, February 22, submitted to the Verkhovna Rada a resolution approving the decision of the National Security and Defense Council on the application of sanctions to financial institutions of the Russian Federation.
This was reported on the website of the Parliament.
The decision of the National Security and Defense Council provides for the application of special sectoral economic sanctions for a period of 50 years to all banks registered and located in the Russian Federation, in particular:
- the central bank of Russia;
- non-bank credit organizations;
- payment system operators;
- professional stock market participants;
- insurance companies;
- investment funds;
- other financial institutions that are registered and provide services in Russia.
The list of sanctions includes 10 items, including:
- stop transactions with assets owned by financial institutions of the Russian Federation;
- prohibition of establishing business relations, including correspondent ones;
- prohibition of transactions and the implementation of investments in favor of financial institutions of the Russian Federation;
- prohibition of the purchase of securities and other financial instruments, the issuers of which are financial institutions of the Russian Federation, with the exception of the alienation (including gratuitous) securities in favor of the state of Ukraine;
- stopping the fulfillment of economic and financial obligations in favor of Russian financial institutions;
- stop servicing electronic payment instruments (transfers, settlements and cash) issued by financial institutions of the Russian Federation;
- cancellation of registration and prohibition of new registrations by the National Bank of international payment systems, the operator of which is the financial institution of the Russian Federation, and its participants, as well as participants of the financial institution of the Russian Federation of the international payment system, the operator of which is a resident of Ukraine.
In addition, sanctions provide for a ban on individuals and legal entities from taking actions that lead to violation and avoidance of the imposed restrictions.
Source: Racurs
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