The Verkhovna Rada can approve a decision on the application of sectoral special economic sanctions to financial institutions of Russia.
This is evidenced by the draft resolution on the VR website.
It should be noted that President Volodymyr Zelenskyi submitted to the Council a resolution approving the decision of the National Security Council regarding the application of sanctions to financial institutions of the Russian Federation.
The NSDC decided to apply sectoral special economic sanctions to all banks registered and located in Russia for a period of 50 years. The list includes the central bank of the Russian Federation, non-bank credit organizations, payment system operators, professional stock market participants, insurance companies, investment funds and other financial institutions registered and providing services in Russia.
Sanctions include 10 items, including:
suspension of operations with assets belonging to financial institutions of the Russian Federation;
prohibition of establishing business relations, including correspondence;
prohibition of concluding agreements and making investments in favor of financial institutions of the Russian Federation;
purchase of securities and other financial instruments, the issuers of which are financial institutions of the Russian Federation, with the exception of alienation (including free of charge) of securities in favor of Ukraine;
suspension of the performance of economic and financial obligations in favor of financial institutions of the Russian Federation, suspension of service of electronic means of payment (transfers, making calculations and issuing cash) issued by financial institutions of the Russian Federation;
cancellation of registration and prohibition of new registrations by the National Bank of the international payment system, the operator of which is a financial institution of the Russian Federation, and its participants, as well as the participant of the financial institution of the Russian Federation of the international payment system, the operator of which is a resident of Ukraine.
Individuals and legal entities are also prohibited from taking actions that lead to the violation and avoidance of the imposed restrictions.