Thursday, March 16, 2017

Ukraine imposes sanctions on Russian state-owned banks

Ukraine Tuesday slapped sanctions on Russian state-owned banks in the country, ratcheting up tensions with Moscow amid a bitter trade war with Kremlin-backed rebels in the east.

Pro-western President Petro Poroshenko approved punitive measures against the Ukrainian subsidiaries of five Russian banks, including state giants Sberbank and VTB, that block them from taking money out of the country.

"Sanctions lasting a year will be applied," Poroshenko's press service said in a statement.

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