Ukrainian central bank bans Russian banknotes, coins depicting occupied territories

Ukrainian central bank bans Russian banknotes, coins depicting occupied territories
Russia's new RUB200 note depicts the Monument to the Sunken Ships in Sevastopol, Crimea.
By bne IntelliNews October 16, 2017

The National Bank of Ukraine (NBU) has forbidden local banks and the country's financial institutions to perform any cash transactions using the new banknotes and coins issued by the Russian central bank in case they contain images of any objects "located on Ukrainian administrative territorial units occupied by Russia" or "bear texts related to the occupation of Ukraine’s territories by Russia".

Russia has just issued a new RUB200 note that has images of landmarks in the Crimea, which Russia annexed in 2014.

The ban also applies to the purchase or sale of foreign currency cash between banks. Moreover, the NBU has prohibited the nation's financial institutions and the state-owned post office Ukrposhta from accepting the Russian banknotes and coins, the regulator said in a statement on October 13.

The resolution comes into effect on October 17. The NBU has taken the decision "in order to protect the sovereignty and territorial integrity of Ukraine", the central bank in Kyiv underlined.

On October 13, Ukrainian Prime Minister Volodymyr Groysman expressed his support for the NBU's move. "I completely support this decision by the NBU," Groysman tweeted. "The Russian central bank can use any Russian symbols on rubles but not Ukrainian ones that are under temporary occupation."


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