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RESOLUTION OF BOARD OF THE NATIONAL BANK OF UKRAINE

of May 11, 2023 No. 65

About approval of the Regulations on realization of special economic and other rationing measures (sanctions)

According to Articles 7, of 15, 56 Laws of Ukraine "About the National Bank of Ukraine", Articles 1, 5 Laws of Ukraine "About sanctions", for the purpose of ensuring realization with the National Bank of Ukraine of personal and sectoral special economic and other rationing measures (sanctions) the Board of the National Bank of Ukraine decides:

1. Approve Regulations on realization of special economic and other rationing measures (sanctions) (further - the Provision) which are applied.

2. Banks and non-bank organizations shall taking into account requirements of provision within three months from the date of entry into force of this resolution:

1) to approve internal documents concerning realization of special economic and other rationing measures (sanctions) which to determine procedure of the measures providing observance of requirements of the legislation of Ukraine in the field of realization of special economic and other rationing measures (sanctions);

2) to customize internal monitoring systems of financial transactions so that before carrying out financial transactions, including transactions via payment devices, to provide their check according to sanctions lists and in case of identification of coincidence of separate data to have opportunity to specify the necessary information.

3. Non-bank organizations shall provide till August 1, 2023 to the National Bank of Ukraine in the form of the file with indicators of the statistical reporting of 2MX "Data on Application, Cancellation and Modification of Personal Special Economic and Other Rationing Measures (Sanctions)" information on availability of non-bank organization, final beneficial owners / owners of essential participation, heads and clients of non-bank organization among sanctions persons.

Information specified in paragraph one of Item 3 of this resolution is provided by non-bank organizations as of July 1, 2023 in the presence of non-bank organization, final beneficial owners / owners of essential participation, heads and clients of non-bank organization in sanctions lists.

3-1. Banks in case of application to the client of the sanction "blocking of assets - temporary deprivation of the right to use and dispose of the assets belonging to physical person or legal entity and also assets concerning which such person can directly or indirectly (through other physical persons or legal entity) to make the actions identical for content to implementation of the right of the order them" (further - "blocking of assets in the new edition") with refining that blocking does not extend to assets, including the money belonging to clients/depositors of the legal entity which list is determined by the National commission on securities and the stock market, after obtaining from the National commission on securities and the stock market of the corresponding list of clients/depositors of such sanctions person which means are placed on accounts of such sanctions person (further - the List) perform transfer of the funds for their accounts which are due to such customers / depositors according to the payment instruction which arrived from such client - sanctions person, after check of compliance of the amount of financial transaction, identification these receivers to the data specified in the List. Banks carry out the payment instruction only in case of compliance of the data specified in the payment instruction, information of rather specific customer / depositor specified in the List.

3-2. Banks enlist into the customer account of means, arrived in its advantage of sanctions person according to Item 3-1 of this resolution.

Banks in case of discrepancy of the data on the client which are available for them - the receiver of means with the data specified in the payment instruction or if such client has no open account in this bank return means to payer bank no later than the next working day after their receipt with indication of return reason.

3-3. Banks enlist into the account of the client - sanctions person of means which were returned by payee bank according to Item 3-2 of this resolution, and address such client for the purpose of receipt of urgent details of the receiver for money transfer into its account.

3-4. Banks to which client the sanction "blocking of assets in the new edition" with refining is applied that blocking does not extend to assets including the money belonging to clients/depositors of the legal entity which list is determined by the National commission on securities and the stock market provide to the National Bank of Ukraine monthly no later than the fifth working day of the month following for reporting, summary information (in the presence) on the financial account transactions of sanctions person performed during month under report, specified in Item 3-1 of this resolution, in the form given in appendix to this resolution.

4. Declare invalid:

1) the resolution of Board of the National Bank of Ukraine of October 1, 2015 No. 654 "About ensuring realization and monitoring of efficiency of personal special economic and other rationing measures (sanctions)";

2) the resolution of Board of the National Bank of Ukraine of April 21, 2016 No. 276 "About introduction of amendments to the resolution of Board of the National Bank of Ukraine of October 1, 2015 No. 654";

3) the resolution of Board of the National Bank of Ukraine of November 01, 2016 No. 399 "About introduction of amendments to the resolution of Board of the National Bank of Ukraine of October 1, 2015 No. 654";

4) the resolution of Board of the National Bank of Ukraine of March 21, 2017 No. 25 "About introduction of amendments to the resolution of Board of the National Bank of Ukraine of October 1, 2015 No. 654";

5) the resolution of Board of the National Bank of Ukraine of June 01, 2017 No. 46 "About introduction of amendments to the resolution of Board of the National Bank of Ukraine of October 1, 2015 No. 654";

6) the resolution of Board of the National Bank of Ukraine of March 15, 2018 No. 24 "About introduction of amendments to the resolution of Board of the National Bank of Ukraine of October 1, 2015 No. 654";

7) the resolution of Board of the National Bank of Ukraine of May 24, 2018 No. 55 "About introduction of amendments to the resolution of Board of the National Bank of Ukraine of October 1, 2015 No. 654";

8) the resolution of Board of the National Bank of Ukraine of July 3, 2018 No. 73 "About introduction of amendments to the resolution of Board of the National Bank of Ukraine of October 1, 2015 No. 654";

9) the resolution of Board of the National Bank of Ukraine of March 28, 2019 No. 53 "About introduction of amendments to the resolution of Board of the National Bank of Ukraine of October 1, 2015 No. 654";

10) the resolution of Board of the National Bank of Ukraine of August 15, 2019 No. 109 "About introduction of amendments to the resolution of Board of the National Bank of Ukraine of October 1, 2015 No. 654".

5. (Anna Lipskaya) after official publication of this resolution to provide to department of financial monitoring bringing to data of banks and non-bank organizations of information on its acceptance.

6. To impose control over the implementation of this resolution on the vice-chairman of the National Bank of Ukraine Dmitry Oleynik.

7. The resolution becomes effective from the date of, its official publication following behind day, except Item 52 of the Section VIII of the provision which is becoming effective since July 1, 2023.

Appendix

to the Resolution of Board of the National Bank of Ukraine

Summary information on the financial account transactions of sanctions person performed during month under report (in the Excel format)

See Appendix (29Kb In original language)

Approved by the Resolution of Board of the National Bank of Ukraine of May 11, 2023 No. 65

Regulations on realization of special economic and other rationing measures (sanctions)

I. General provisions

1. This Provision determines procedure for realization of special economic and other rationing measures (sanctions) (further - sanctions).

2. Requirements of this provision extend to the following subjects of implementation of sanctions:

1) banks of Ukraine and branches of foreign banks (further - bank);

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