The State Duma to ban money transfers to Ukraine through international payment systems

Russian parliament adopted in the final third reading amendment to law to ban money transfers from Russia to Ukraine by means of payment services of international providers, as per RIA Novosti.

Ukrainian authorities spread Anti-Russian sanctions over Russian payment systems forbidding them to operate on the territory of Ukraine. A new Russian law provides for a range of measures to retaliate these sanctions. In case any country imposes restrictions on Russian payment systems, money can be transferred to this country only through payment service providers directly or indirectly controlled by Russia.

The law will come into legal effect after the Central Bank of Russia reveals details of Russian payment systems’ ban. New rules will touch upon the restrictions imposed by foreign countries before the document gets final approval.

The Parliament member Vladislav Reznik who was one of the authors of this amendment has remarked that this law is to eliminate negative aftermath of Russian payment systems’ ban in Ukraine.

It is worth mentioning that a few days ago, Russian banks’ subsidiaries operating in Ukraine were put under the sanctions.

Russkiy Mir