The Verkhovna Rada has tightened sectoral sanctions against russian financial institutions

According to a Ukrinform correspondent, legislative initiative No. 15366 was supported by 312 MPs.

The document, adopted by the Verkhovna Rada, ratifies the decision of the National Security and Defence Council of Ukraine dated 9 June 2026 “On amending the decision of the National Security and Defence Council of Ukraine dated 22 February 2023 ‘On the application of sectoral special economic and other restrictive measures (sanctions) against financial institutions of the russian federation’”, which was brought into force by Decree of the President of Ukraine No. 561/2026 of 29 June 2026.

In accordance with the amendments, sectoral sanctions are to be imposed for a period of 50 years against all financial institutions of the russian federation that are registered or located within the territory of the aggressor state.

These will apply not only to russian banks, including the Central Bank of the russian federation, but also to non-bank credit organisations, insurance companies, investment funds, professional stock market participants, payment system operators, operators of financial and investment platforms, operators of information systems in which digital financial assets are issued, operators of exchanges for such assets, clearing organisations and other institutions that provide financial services or ensure the functioning of financial infrastructure.

It is also proposed to ban, in Ukraine, the use of platforms, services and software products of russian financial institutions that facilitate the transfer, purchase, sale, exchange, storage or administration of financial or virtual assets, or provide other related services.

Furthermore, a ban is envisaged on transactions involving virtual assets issued by financial institutions of the russian federation, virtual assets backed by the russian rouble, and accounts or crypto wallets in which such assets are held.

A ban is also imposed on conducting transactions with financial infrastructure providers, regardless of their country of registration, if they facilitate transactions involving virtual assets issued by russian financial institutions or virtual assets backed by the russian rouble.

Source: Ukrinform