Zelensky signs law allowing the nationalisation of sanctioned individuals' banks
The law will enable the nationalisation of Sense-Bank (formerly Alfa-Bank) belonging to russian businessmen Mikhail Fridman and Petr Aven
Ukrainian President Volodymyr Zelensky signed a law on June 16 allowing the nationalisation of banks owned by sanctioned individuals. This means that the National Bank of Ukraine (NBU) will have the relevant authority when sanctions are applied to the bank and/or its owners.
This was mentioned in the bill card on the Verkhovna Rada website.
It is noted that the National Bank gets such authority:
– to prohibit the sanctioned individual (natural and/or legal person) from acquiring or increasing significant participation in the bank;
– to revoke the banking license and liquidate banks (which are not defined as systemically important) or about the withdrawal from the market of a systemically important bank (nationalisation).
Background. Mind previously reported that the Verkhovna Rada had allowed the nationalisation of banks owned by sanctioned individuals.
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