Ukrainian President: $5 billion in bank assets remain in occupied territory
During a meeting in Volyn Oblast, President Petro Poroshenko said that bank assets valued at $5 billion remain in the occupied territory.
"One number that has never been made public is that bank assets worth $5 billion have remained in the occupied territory," the President said.
Poroshenko added that these funds cannot be withdrawn because the treasuries had been seized.
On March 6, Ukraine extended sanctions against four banks with Russian state capital for four years. The banks affected are Sberbank, Prominvestbank, VTB Bank and BM Bank.
On March 15, 2017, the president enacted the decision of the National Security and Defense Council (NSDC) to impose sanctions against five Ukrainian banks that belonged to the state of Russia. Sanctions were introduced for one year against the four banks above, as well as VS Bank. The sanctions set restrictions on the withdrawal of capital outside the country on behalf of related persons.
Over the course of a year, Russia managed to sell only VS Bank, a small Lviv-based bank. VS Bank was purchased by businessman Serhiy Tihipko.