NBU: In the ban of Russia on the transfer of money has advantages

НБУ: В запрете России на перевод денег есть плюсы

NBU commented on Russia’s decision on the limitation of money transfers to Ukraine

The Russian ban on money transfers to Ukraine will contribute to deshadowing of the economy.

The national Bank said that Russia’s decision to ban money transfers to Ukraine through international payment systems without account opening will not affect the country’s banking system and promote the legalization of the economy, UNIAN reports.

The Russian state Duma adopted in the third reading a law that restricts the monetary transfers from Russia to Ukraine through international payment systems.

“I don’t think it will have an impact on the banking system, because the amount is insignificant and the Ukrainians are so creative that they will find other ways to transfer funds”, – said the first Deputy head of the NBU Jacob Smoliy.

According to him, two months of this year Ukraine received from Russia through the international payment systems 90 million dollars.

The most popular means to transfer funds without opening accounts, which now will not work, was Western Union and MoneyGram, but interbank transfers continue to work.

“If a person opens an account in the Bank, interbank settlements today are. On the contrary, now the sender and the recipient of funds will be identified and the calculations are more transparent. This will contribute to deshadowing of the economy,” – added resin.

He reminded that the Bank allows citizens who are studying or working in Russia to open accounts in Russian banks.

Note, 16 March in Ukraine against the Bank of Russia imposed sanctions. Now the Ukrainian “daughters” it is forbidden to withdraw capital abroad in favor of “parent” banks.
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