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3/22, 3:46 PM (Source: TeleTrader)
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Ukraine National Bank urges intl banks to halt activities with Russia

The Chairman of the National Bank of Ukraine Kyrylo Shevchenko urged the heads of the international banking groups on Tuesday to halt their activities with Russia.

Shevchenko asserted that the international banks should "join international measures to reduce the ability of the aggressor's economy to finance hostilities in Ukraine," adding that "any financial transactions with the institutions of this country and as a result of paying taxes to its budget will continue to contribute to the financing of war crimes and terrorist acts against the civilian population of Ukraine."

The chairman concluded that continuing business with Russia would result in "reputational risks" for the banks on a global scale and not just in Ukraine.

Baha Breaking News (BBN) / AY