PrivatBank was nationalized in 2016 / Photo from UNIAN
PrivatBank was nationalized in December 2016.
Ukrainian President Volodymyr Zelensky says he is going to safeguard the interests of the state and citizens of Ukraine in the case of PrivatBank.
"As for PrivatBank, I will protect the state only, citizens only. I am not interested in the former owners' games in court. I am not going to side with them," Zelensky said while meeting with European Commission Vice-President for the Euro and Social Dialogue Valdis Dombrovskis in Brussels on June 4, according to Zelensky's administration.
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As reported by UNIAN, Ukraine's government decided to nationalize PrivatBank in December 2016, guided by National Security and Defense Council's recommendations. Prior to the bank's nationalization, its key shareholders were businessman Ihor Kolomoisky and his partner Hennadiy Boholiubov.
On April 18, 2019, Kyiv's District Administrative Court overturned the decision on PrivatBank's nationalization, as well as the decision of the National Bank of Ukraine on the list of the bank's affiliated entities, which had become grounds for securitizing debts before them into shares.
Ukraine's international partners, including the International Monetary Fund, the EU Delegation, the European Bank for Reconstruction and Development, the World Bank and the U.S. Embassy, issued statements in support of the nationalization of PrivatBank.