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होम World Ukraine government approves nationalization of bank linked to Russia
Ukraine government approves nationalization of bank linked to Russia
World

Ukraine government approves nationalization of bank linked to Russia

News On Time Desk 22 July 2023
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Kiev: The Ukrainian government has come up with a proposal to nationalize Russia-linked Sense Bank. The press service of the cabinet gave this information. The process of nationalization of the bank, including the appointment of new management, will be ensured at the earliest for its smooth functioning, the government said in a statement on Friday. It added that the Ukrainian Finance Ministry would temporarily take control of the bank and try to attract private investors after martial law in the country is lifted. According to the report, the proposal came after the National Bank of Ukraine (NBU) proposed to nationalize the bank, citing that the financial institution owned by Russian citizens has been subject to Ukrainian and international sanctions. Sense Bank, formerly known as Alfa Bank, is one of the largest financial institutions in Ukraine, and is included in the list of important banks.