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)

Being guided by the Law of Ukraine "About sanctions" and "About the National Bank of Ukraine", the Presidential decree of Ukraine of September 16, 2015 No. 549/2015 "About the decision of the National Security and Defense Council of Ukraine of September 2, 2015 "About application of personal special economic and other restrictive means (sanctions)" (further - the Presidential decree of Ukraine of September 16, 2015 No. 549/2015), the Board of the National Bank of Ukraine decides:

1. To banks of Ukraine:

To provide 1) to the National Bank of Ukraine within five working days from the effective date of the presidential decree of Ukraine about enforcement of the decision of the National Security and Defense Council of Ukraine adopted according to part three of article 5 of the Law of Ukraine "About sanctions" (further - the sanctions list), data on availability and remaining balance of means on bank accounts on which means of the physical persons and legal entities specified in the sanctions list to which rationing arrangements (sanctions) "blocking of assets are applied are considered - temporary restriction of the right of person to use and dispose of the property belonging to it" (further - "blocking of assets") ", " stop of financial transactions ", " prevention of removal of the capitals out of limits of Ukraine ", " suspension of execution of economic and financial liabilities "and/or" stop of accomplishment of economic and financial liabilities (prohibition to grant the loans, loans, financial aid, guarantees; prohibition perform crediting through security purchase; will lock acquisitions of securities)" as of Date of Introduction in action of the decision of the National Security and Defense Council of Ukraine accepted according to part three of article 5 of the Law of Ukraine "About sanctions" and as of date of provision of information to the National Bank of Ukraine;

2) monthly, no later than the fifth working day of the month following reporting to provide to the National Bank of Ukraine according to the regulatory legal act which regulates rules of the organization of the statistical reporting provided in the National Bank of Ukraine, such information:

about remaining balance of means on bank accounts on which means of the physical persons and legal entities specified in the sanctions list to which rationing arrangements (sanctions) "blocking of assets" are applied, "stop of financial transactions", "prevention of removal of the capitals out of limits of Ukraine", "suspension of execution of economic and financial liabilities" are considered and/or "stop of accomplishment of economic and financial liabilities (prohibition to grant the loans, loans, financial aid, guarantees; prohibition perform crediting through security purchase; will lock acquisitions of securities)" (further - persons specified in the sanctions list);

about attempts of carrying out financial transactions by persons specified in the sanctions list or their representatives;

about attempts of carrying out financial transactions for benefit of persons specified in the sanctions list and about the stopped financial transactions which aimed, promoted or could promote avoidance/violation of the restrictions set by sanctions or broke the restrictions set by sanctions;

3) to refuse establishment of business contacts with persons specified in sanctions lists to which the sanction "prohibition on establishment of business contacts" is applied;

4) to stop financial transactions of persons specified in sanctions lists to which the sanction "stop of financial transactions" is applied;

5) to take measures for prevention of removal out of limits of Ukraine of the capital by persons specified in sanctions lists to which the sanction "prevention of conclusion of the capitals out of limits of Ukraine" is applied;

6) to suspend execution of financial liabilities for benefit of persons specified in sanctions lists to which the sanction "suspension of execution of economic and financial liabilities" is applied - in full, and for benefit of persons to whom the sanction "suspension of execution of economic and financial liabilities is applied (prohibition to grant the loans, loans, financial aid, guarantees; prohibition perform crediting through security purchase; will lock acquisitions of securities)", - regarding the list of the actions determined by the sanction: loan granting, including through security purchase, loans, financial aid, guarantees;

7) to block means / to stop financial transactions of persons specified in sanctions lists, in the following procedure:

enlists the means which arrived for benefit of person specified in sanctions lists to whom the sanction "blocking of assets" is applied bank on the bank account of this person, and in case of absence in bank of the account of such person, the bank considers means on the corresponding balance sheet account intended for accounting of accounts payable on transactions with clients of bank;

considers the means which arrived for benefit of person specified in sanctions lists to whom the sanction "stop of financial transactions" is applied bank on the corresponding balance sheet account intended for accounting of accounts payable on transactions with clients of bank;

considers the means which arrived for benefit of the client from the face specified in sanctions lists to which sanctions "blocking of assets" and/or "stop of financial transactions" are applied bank on the corresponding balance sheet account intended for accounting of accounts payable on transactions with clients of bank;

the bank shall refuse performed by the settlement document to the client specified in the sanctions list which is initiator of transfer and to which sanctions "blocking of assets" and/or "stop of financial transactions" are applied;

the bank shall refuse to the client performed by the settlement document for benefit of person specified in the sanctions list to which sanctions "blocking of assets" are applied, "stop of financial transactions", "suspension of execution of economic and financial liabilities" and/or "stop of accomplishment of economic and financial liabilities (prohibition to grant the loans, loans, financial aid, guarantees; prohibition perform crediting through security purchase; will lock acquisitions of securities);

 the emitting bank shall refuse to person specified in sanctions lists to whom sanctions "blocking of assets" and/or "stop of financial transactions", in implementation of transaction according to its bank accounts with use of electronic means of payment are applied;

the bank performs the settlement document for benefit of the client of subsanctions bank if such client is not specified in the sanctions list;

the bank shall refuse to the client performed by the settlement document according to financial liabilities on loan granting, including through security purchase, loan, financial aid, guarantee, on security purchase for benefit of person specified in sanctions lists to whom the sanction "suspension of execution of economic and financial liabilities is applied (prohibition to grant the loans, loans, financial aid, guarantees; prohibition perform crediting through security purchase; will lock acquisitions of securities)";

the bank returns to the client the settlement document without execution and puts down on it text about the reason of its return (with indication of date of return and the reference to the Law of Ukraine "About sanctions" and the presidential decree of Ukraine which enacts the relevant decision of the National Security and Defense Council of Ukraine made according to part three of article 5 of the Law of Ukraine "On sanctions") and signatures of the executive in charge and the worker performing functions of the controller with indication of their surnames, names, middle names, and dates;

the bank shall refuse to the client performed by the settlement document which provides money transfer out of limits of Ukraine or effect of which can be conclusion of the capitals out of limits of Ukraine if the sanction "prevention of conclusion of the capitals out of limits of Ukraine", except for money transfer under the external economic agreements, calculations for which are perfromed, is applied to the initiator and/or the receiver of transfer:

for actually delivered products on customs area of Ukraine;

with use of documentary credits on condition of representation of documentary confirmation of shipment of products or the actual delivery of products to customs area of Ukraine;

banks are forbidden to initiate money transfer into accounts of persons specified in sanctions lists to which sanctions "blocking of assets", "stop of financial transactions", "prevention of conclusion of the capitals out of limits of Ukraine", "suspension of execution of economic and financial liabilities" and/or on own bank accounts opened in persons to whom sanctions "blocking of assets", "stop of financial transactions", "prevention of conclusion of the capitals out of limits of Ukraine", "suspension of execution of economic and financial liabilities", except for money transfer on the transactions performed for increase in the authorized capital of banks of Ukraine are applied are applied

The prohibitions specified in paragraphs eleven - the fourteenth the subitem 7 of Item 1 of this resolution, are not applied to execution of settlement documents by bank which are connected with client payments on correspondent accounts in bank to which the sanction "prevention of conclusion of the capitals out of limits of Ukraine", including payment of the possible commission fees connected with carrying out the specified client transactions or maintaining such correspondent account provided that violation of sanctions prohibition or Item 3-1 of this resolution will not be consequence of carrying out such transactions is applied.

8) specified in the sanctions list to which the sanction "prevention of conclusion of the capitals out of limits of Ukraine for benefit of the faces tied with banks" is applied, it is forbidden to make any transactions for benefit of the related persons who provide money transfer out of limits of Ukraine or consequence of which conclusion of the capitals of such banks out of limits of Ukraine can be, including:

direct and/or indirect implementation of any active transactions (loan granting, deposits, loans, including on the terms of subordinated debt, acquisition of securities, investment of funds on correspondent accounts, etc.);

dividend payout, percent, return of the interbank credits / deposits, money from correspondent accounts, subordinated debt;

profit distribution;

capital allocation.

The prohibitions specified in paragraphs one - the fifth the subitem 8 of Item 1 of this resolution, are not applied to carrying out calculations by subsanctions banks which initiators are clients of these banks and which consequence violation of above-mentioned prohibitions, and also to transactions of subsanctions banks which are performed for the purpose of increase in the authorized capital of these banks and which consequence increase in the authorized capital of such banks is is.

2. Banks of Ukraine, non-bank organizations residents / non-bank financial resident organizations, operators of mail service which are payment institutes and/or members/members of payment service providers shall refuse implementation of money transfer without opening of accounts on the order / for benefit of persons specified in the sanctions list to whom sanctions "blocking of assets" are applied, "stop of financial transactions", "prevention of removal of the capitals out of limits of Ukraine", "suspension of accomplishment of economic and financial liabilities" and/or "stop of accomplishment of economic and financial liabilities (prohibition to grant the loans, loans, financial aid, guarantees; prohibition perform crediting through security purchase; will lock acquisitions of securities).

2-1. To non-bank financial institutions, the operators of mail service who obtained the general license of the National Bank of Ukraine for implementation of currency transactions / the license of the National Bank of Ukraine for implementation of currency transactions and/or non-bank organizations residents / to non-bank financial resident organizations, operators of mail service which are payment institutes and/or members/members of payment service providers, monthly, no later than the fifth working day of the month following for reporting to provide to the National Bank of Ukraine according to the regulatory legal act which regulates rules of the organization of the statistical reporting provided in the National Bank of Ukraine, such information:

1) about refusal in carrying out currency exchange transactions to persons specified in the sanctions list to whom sanctions "blocking of assets" and/or "stop of financial transactions" are applied;

2) about refusal in implementation of money transfer without opening of accounts on the order / for benefit of persons specified in the sanctions list.

3. Banks of Ukraine and non-bank financial institutions, the operators of mail service who obtained the general license of the National Bank of Ukraine for implementation of currency transactions / the license of the National Bank of Ukraine for implementation of currency transactions shall refuse carrying out currency exchange transactions to persons specified in the sanctions list to whom sanctions "blocking of assets" and/or "stop of financial transactions are applied.

3-1. Banks, non-bank organizations / to non-bank financial institutions, operators of mail service of Ukraine are forbidden to perform operations which:

Aim at 1), promote or can promote avoidance of the restrictions set by special economic and other rationing measures (sanctions);

2) are broken, promote or can promote violation of the restrictions set by special economic and other rationing measures (sanctions).

4. I reserve control over the implementation of this resolution.

5. This resolution becomes effective from the date of, its official publication following behind day, and is effective during the term of application of sanctions.

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