By Andrei Skvarsky.
Ukraine’s central bank has prohibited commercial banks from opening Russian ruble accounts and issuing loans in rubles.
A National Bank directive, moreover, forbids banks to accept ruble payments into existing ruble accounts, to extend contracts such accounts are based on, and to put back the maturity dates of ruble loans that had been issued before.
The same directive bans the movement of any ruble cash across the border of Crimea, a region annexed by Russia from Ukraine this spring, other than maximum per capita sums of 10,000 hryvni (36,000 rubles or $772) carried by private individuals, who must declare them orally to a customs official.
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