Khoroshkovsky backs off from plans to acquire Russian Sberbank's Ukrainian subsidiary – media

Ukrainian businessman Valeriy Khoroshkovsky has withdrawn from negotiations on the purchase of Russian Sberbank's Ukrainian subsidiary.

Khoroshkovsky reached a general agreement with Sberbank's parent structure. However, he withdrew from talks late January after his lawyers briefed him of possible risks associated with violation of the EU sanction legislation in the event of a direct or indirect purchase of the Ukrainian Sberbank, FinClub reported with reference to a source in banking circles.

"For Khoroshkovsky, who is a resident of Monaco, the issue of EU sanctions is very important, so he withdrew from negotiations," the source said.

Read alsoNSDC supports extension of sanctions against "Russian banks"It is also noted that Khoroshkovsky's withdrawal coincided with the resignation of Ihor Yushko, the head of the bank board, who helped him negotiate. Yushko quit on February 1. After Yushko's resignation, the bank's treasurer, Dmytro Zolotko, also withdrew from the bank's board. Iryna Knyazeva was appointed the bank's acting head.

The National Bank of Ukraine is currently considering an application from the Belarus-based Paritetbank on purchasing a 100% stake in Sberbank, submitted December 21, 2017. In the summer of 2017, Paritetbank was featured as an element of the transaction for the purchase of a Ukrainian bank by VP Capital investment company, owned by Belarusian IT entrepreneur Viktor Prokopenya.