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The National Bank of Ukraine has allowed sanctioned companies to fulfill their obligations to Ukrainian counterparts.
The National Bank has allowed persons and entities who have been sanctioned "to prevent the withdrawal of capital from Ukraine" to fulfill their obligations to Ukrainian counterparts, as well as to make mandatory payments to the budget, pay wages and make other such actions.
The decision, which is now effective, was approved by NBU Board resolution No. 73 of July 3, 2018, the regulator's press service reports.
It is also noted that the National Bank brought its demands in line with the decision of the National Security and Defense Council of Ukraine (NSDC) of 21.06.2018 "On the application and introduction of changes to personal special economic and other restrictive measures (sanctions)," introduced by Presidential Decree Ukraine of № 176/2018 of June 21, 2018.
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The regulator says that to implement paragraph 4 of said decision, the National Bank extended the mechanism for implementing the sanctions applied by the NSDC by banks, non-banking institutions, the national postal operator, and payment organizations.
"Paragraph 4 of the NSDC decision of June 21, 2018, entitles the Cabinet of Ministers of Ukraine, together with the Security Service of Ukraine and the National Bank of Ukraine, to ensure the implementation and monitoring of the effectiveness of personal special economic and other restrictive measures (sanctions) applied to persons listed in Paragraph 2 of this decision," the NBU said.