Zelenskyy Proposes Rada To Apply Sectoral Economic Sanctions To All Russian Banks For 50 Years

President Volodymyr Zelenskyy proposes to the Verkhovna Rada to approve the decision of the National Security and Defense Council (NSDC) of February 22, which provides for the application of sectoral economic sanctions to all Russian banks for 50 years. This is stated in draft resolution No. 9045, registered in the Verkhovna Rada on February 22, Ukrainian News Agency reports.

The decision of the NSDC provides for the application of sectoral economic and other restrictive measures (sanctions) for 50 years to all banks registered in Russia, including the Central Bank of Russia, as well as to non-bank credit organizations, payment system operators, professional stock market participants, insurance companies, investment funds.

In particular, it provides for the suspension of transactions with assets belonging to financial institutions of the Russian Federation, the prohibition of correspondent relations, the execution of transactions with them, 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 free of charge) of securities in favor of Ukraine.

It also provides for the suspension of the performance of economic and financial obligations in favor of financial institutions of the Russian Federation, including the transfer of dividends, interest and other payments for assets involved in Ukraine, the suspension of service of electronic means of payment (including transfers, making calculations and issuing cash) issued by financial institutions of the Russian Federation, the prohibition of crediting funds to the accounts of clients - individuals/legal entities by transfers using electronic means of payment issued by financial institutions of the Russian Federation.

Zelenskyy has already approved this decision of the NSDC by his decree No. 89 of February 22, it will enter into force simultaneously with the approval of the NSDC decision by the Verkhovna Rada.

As Ukrainian News Agency earlier reported, Zelenskyy proposes to the Verkhovna Rada to approve the NSDC's decision to apply sectoral sanctions to financial institutions of the Russian Federation.

Yaroslav Zheleznyak, Member of Parliament from the Holos faction, announced in his Telegram channel that consideration of this resolution is planned in the near future.