Kyiv court arrested shares of subsidiaries of Russian state-owned banks operating in Ukraine

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The Kiev Court of Appeal decided to arrest the shares of Russian state-owned banks, operating in Ukraine: Prominvestbank, Sberbank and VTB Bank.

According to the decision, published in the Unified State Register of Court Decisions, these banks are also banned from liquidating or reorganizing, as well as alienating of movable and immovable property.

It is noted that the decision was made in connection with the suit (filed by 18 enterprises and one individual), justified by the decision of the Permanent Court of Arbitration [Haag, Netherlands] in order recover compensation from Russia for illegally expropriated real estate.

It is also reported that the court decision is the subject to immediate execution, but may be appealed to the Supreme Court within thirty days.

As The Journalist reported, US sanctions have drove down the national currencies of Turkey and Russia.

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