The NBU offers the EU and the USA practical solutions to minimize the blocking of payments from Ukraine
The National Bank of Ukraine (NBU) appealed to EU and US financial regulators with a request to provide official clarifications regarding the work of their financial institutions with Ukrainian clients in order to reduce cases of blocking of financial transactions. IN messages the press service of the regulator notes that this issue has become particularly relevant due to cases of blocking of payments made or received by Ukrainian companies registered in regions bordering the occupied territories or partially under Russian control.
The NBU is actively working to minimize these cases of blocking, as this can significantly limit Ukrainian business opportunities and reduce the effectiveness of the international support that Ukraine receives for its economic development.
One of the reasons for the blocking of payments is the sanctions restrictions imposed by the European Union on territories not under the control of the government of Ukraine, as well as the requirements of international standards and national legislation of other countries in the field of financial monitoring and risk management. At the same time, foreign banks often do not have reliable information about the status of such territories, which complicates the situation.
To solve this problem, the NBU offers several practical measures, in particular, the expansion of details in SWIFT messages about the transfer of funds, so that Ukrainian banks can indicate information about the status of the client’s territory. It is also planned to cooperate with foreign colleagues to develop a unified approach to correctly fill in the details of cross-border payments and develop clear instructions for banking institutions.
In addition, the NBU is working on the possibility of receiving official clarifications from EU and US financial regulators for financial and payment institutions, which would confirm the absence of reservations regarding cooperation with Ukrainian clients and provide a list of official sources of data on territories controlled by Ukraine for checking the status of clients.
