Zelensky introduced sanctions against the top management of Russian banks

Volodymyr Zelensky introduced sanctions against the top management of large Russian banks. The corresponding decree is published on the official website of the President of Ukraine. A total of 333 individuals and one legal public joint-stock company “Moscow Stock Exchange MICEX-RTS” are on the sanctioned list.

The document affects representatives of almost the entire Russian banking sector from among those who have not been subject to restrictions before. Among such persons are Oleg Sysuev, Chairman of the Board of Directors and President of Alfa Bank, Nikolay Katorzhnov and Alexander Kaznacheev, members of the Board of the Moscow Credit Bank, Chairman of the Board of the FC Otkritie Bank and former Minister of Finance of Russia Mikhail Zadornov, and many others.

The sanctions also affected the top management of a number of large Russian companies: for example, the deputy chairman of the board of directors of MTS PJSC Regina von Flemming was subjected to restrictive measures.

Sanctions are imposed for a period of ten years and include, in particular, the blocking of assets and a ban on trading operations.

Separately, Zelensky instructed the Ministry of Foreign Affairs of Ukraine to forward the sanctions list approved by him to the authorities of the European Union, the United States and other states so that they take similar measures.

• Earlier it was reported that the USA and the European Union were preparing new packages of sanctions against Russia. They are expected to include restrictions against Russian financial institutions and a number of individuals representing them. According to several sources, several large Russian banks – in particular, Alfa-Bank – will be on the sanctions list.
• Large-scale sanctions against Russia were introduced by Western countries immediately after the Russian armed invasion of Ukraine on February 24 last year. Whole sectors of the economy and more than a thousand individuals and legal entities fell under them. In Moscow, they claim that, despite the negative impact of the sanctions, they did not achieve their goals and the Russian economy did not collapse. In the West, they admit that at the moment the introduced measures had only a limited effect, but they insist that they are necessary in any case as an instrument of economic pressure.