Ukraine’s President: Exit of Russian banks only matter of time

KIEV, Mar 1 (PRIME) -- Russian banks’ exit from Ukraine is only a matter of time, but it should be done in a way that does not impact the local banking system, Ukraine’s President Pyotr Poroshenko said on Thursday.

“These banks are wrapping up their Ukraine’s businesses and are simultaneously looking for buyers so it is a matter of time,” he said.

Poroshenko said that the number of banks with Russian capital has almost halved over the past three years from 10.6% to 5.6%.

In March 2017, Kiev introduced sanctions against local units of Russian banks Sberbank and VTB Bank, and their subsidiaries VS Bank and BM Bank, respectively, as well as against Prominvestbank. The sanctions prohibit any financial operations in favor of the affiliated entities, including the parent companies.

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