Russia Bans Four Ukrainian Banks in Crimea, Including PrivatBank

Russia’s Central Bank has terminated the operation of branch offices of four Ukrainian banks – PrivatBank, All-Ukrainian Stock Bank, Kyivan Rus Bank, and ImexBank – on the territory of Crimea and Sevastopol. A press release issued by the Central Bank cites the banks’ failure to meet their obligations before account holders as the reason behind this action. Previously, the Russian Central Bank has threatened the Crimea-based Ukrainian banks with conservatorship over failure to meet their obligations.

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