Ukraine expands sanctions against Russian financial sector

President Volodymyr Zelensky signed Decree No. 561/2026, which expanded sectoral sanctions against the Russian financial sector.

This is stated in Decree No. 561/2026 and on the Presidentʼs Office website.

The statement from the Presidentʼs Office recalled that in 2023, sanctions were imposed for 50 years against all banks, non-bank credit organizations, payment system operators, stock market participants, insurance companies, and investment funds registered or located in the Russian Federation.

After that, the National Bank prepared new proposals, in particular, to prevent the Russian Federation from using modern financial instruments to circumvent sanctions, including cryptocurrency.

Thus, Decree No. 561/2026 extends sanctions to operators of platforms for the circulation of digital financial assets, cryptocurrency services, financial platforms, and clearing organizations.

Ukraine took as a basis European approaches to sanctions, in particular in the 19th and 20th packages, and imposed sanctions against all Russian virtual assets.

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