NBU banned Ukrainian banks from operations with rubles

The National Bank of Ukraine (NBU) has imposed a ban on authorized institutions of the country to carry out any foreign exchange transactions using Russian rubles and Belarusian rubles, follows from the message of the regulator.

In addition, it is prohibited to fulfill obligations to legal entities and individuals who live in the Russian Federation or Belarus.

The decision was made in connection with the background of Russia’s special military operation in the Donbass.

And the day before, the NBU suspended the work of the country’s foreign exchange market, with the exception of the operation to sell foreign currency to customers. In addition, the National Bank approved a resolution, according to which it limited cash withdrawals from accounts to $3.5 thousand per day.

Recall, on February 24, Russian President Vladimir Putin made an emergency appeal to the Russians and announced a special military operation in the Donbass. In his speech, he stated that “circumstances require decisive action from Russia” and stressed that “Russia will not allow Ukraine to have nuclear weapons.”

According to the Russian leader, the plans of the Russian Federation “do not include the occupation of Ukrainian territories,” however, “the Russian Federation considers it important that all the peoples of Ukraine can exercise the right of self-determination.”

Reacting to the Kremlin’s decision, US President Joe Biden, in a special statement, called Russia’s attack on Ukraine unprovoked and unjustified and promised to hold it to account.

For his part, UN Secretary-General António Guterres urged Putin to “stop the soldiers” from attacking Ukraine and give peace a chance.

In response to Russia’s actions, Western countries (USA, Canada, European Union, Great Britain, Japan) announced new, tougher sanctions against the Russian Federation, including financial and economic ones.