The Ukrainian Parliament has authorized the seizure of the assets of the local subsidiary of the main Russian bank, Sberbank, in the country.
Ukraine on Thursday approved the seizure of the assets of the local subsidiary of the main Russian bank, Sberbank, in reaction to the invasion of the country by Moscow, according to a decision published Thursday by the Parliament.
More concretely, the Ukrainian Security Council approved the seizure of 100% of the shares of the international reserve bank belonging to Sberbank Russia, a decision validated by a presidential decree and approved on Thursday by the Rada, the Ukrainian Parliament.
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Also nationalized are 99.8% of the shares of Prominvestbank, a bank based in kyiv and owned by the development bank Vnesheconombank (VEB), a Russian state body.
The Ukrainian authorities have also decided to seize the financial assets of the two banks without specifying the amount.
Ukrainian President Volodymyr Zelensky on Tuesday signed a decree on the expropriation of Russian state property and its residents due to “public necessity”, in view of the war launched by Russia in Ukraine on February 24.