NBU bans Ukrainian banks to operate in Crimea

7 May 2014 10:11
(QHA) -

National Bank of Ukraine (NBU) banned Ukrainian banks from operating in “occupied” Crimea.

“Directorate of NBU made a decision to suspend the operating of Ukrainian banks in Crimea till the end of occupation”- reads the statement.

According to the report, NBU made the decision, as it is not able to carry out banking regulation and supervision, exchange control and state financial monitoring of the activity of banks in the Crimea.

"The occupation of the territory of the Autonomous Republic of Crimea and city of Sevastopol violated the banking system in the region, and led to threat to the interests of depositors and other creditors of banks," - National Bank noted.

According to the law on the rights and freedoms of citizens on the temporarily occupied territory of Ukraine, the state that occupies the territory is responsible for compensation of material damage caused by the occupation.