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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 sphere 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.

4. Recognize 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.

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);

2) non-bank organizations [insurers (overcautious persons), credit unions, pawnshops, other financial institutions, registration and/or licensing of which is performed by the National Bank of Ukraine (further - National Bank); insurance (reinsurance) brokers; other legal entities who are not financial institutions, but provide separate financial services, state regulation and supervision of which activities is exercised by National Bank; operators of payment systems; the operators of mail service providing financial payment services and/or services of postal order, and/or service in trade in currency values in cash form; branches or representative offices of the foreign business entities rendering financial services in the territory of Ukraine] (further - non-bank organization).

3. Terms in this Provision are used in the following values:

1) internal documents concerning implementation of sanctions policies, rules, programs, techniques, other documents developed and approved by subject of implementation of sanctions for the purpose of proper observance of requirements of the legislation of Ukraine by it in the sphere of implementation of sanctions;

2) the business relations relations between sanctions person / person to whom the sanctions, and the subject of implementation of sanctions connected with business, professional or business activity, which arose based on the agreement, including the public agreement, and the existence providing duration after their establishment are implemented;

3) the client - any person who addresses for provision of services the subject of implementation of sanctions and/or uses services of the subject of implementation of sanctions, including person who is the owner of electronic money (digital money of National Bank) and/or receives or intends to receive payment service as the payer or the receiver (or both at the same time);

4) the moment of the edition of the sanctions list moment of the first promulgation of such list, including its promulgation on the page of official Internet representation of the President of Ukraine;

5) under control person client of the subject of implementation of sanctions which final beneficial owner / the owner of essential participation in which sanctions person to whom the sanction" blocking of assets is applied is - time 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") and/or concerning whom such sanctions 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 it;

6) financial transaction - actions with assets, including actions with the assets belonging to sanctions person, the implementation of sanctions made by subjects or with their help or of which they knew within fulfillment of requirements of this provision;

7) financial transaction which carrying out it was refused, - financial transaction during which initiation the subject of implementation of sanctions refuses to person its carrying out according to requirements of this provision, including introduction/cash disbursement and/or money transfer to the receiver;

8) financial transaction which was stopped - financial transaction on which the subject of implementation of sanctions does not enlist funds into the account of the receiver / does not pay to the receiver cash, and considers according to the procedure, determined in this Provision.

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