MOSCOW, July 7 (RIA Novosti) – Russia’s Central Bank has stopped from Monday all operation with offices of four Ukrainian banks in Crimea, according to a press release.
“The decision to stop the activity of the structural branches of the Ukrainian banks was done with the exclusive tasks for protecting the interests of investors and clients, whose legal rights were breached, which includes the factual halting of the branches’ operations in the Republic of Crimea…as well as the lack in perspective of their renewal of activities,” the Central Bank said.
The decision applies to the local branches of Arkada, Raifeissen Aval, Express Bank, and ENERGOBANK located on the Crimean Peninsula.
In May, the Central Bank of Russia terminated operations of nine Ukrainian banks in Crimea, namely State Savings Bank of Ukraine, Ukrsotsbank (UniCredit Bank affiliate), UkrSibbank (subsidiary of French bank BNP Paribas), Delta Bank, PJSC Marfin Bank, CityCommerceBank, Forum Bank, Avtokrazbank and Platinum Bank.
These banks failed to meet their obligations to depositors and clients, according to the central bank of the Russian Federation.
