To the attention of the reporting entities on the risks of conducting financial transactions related to the terrorist state!

On June 12, 2022, the Law of Ukraine No. 2265-IX “On the Prohibition of Propaganda of the Russian Nazi Totalitarian Regime, Armed Aggression of the Russian Federation as a Terrorist State against Ukraine, Symbols of the Military Invasion of the Russian Nazi Totalitarian Regime in Ukraine” entered into force.

In accordance with the provisions of the Law, the Russian Federation has been recognized as a terrorist state, among the goals of whose political regime are genocide of the Ukrainian people, physical destruction, mass murder of Ukrainian citizens, committing international crimes against civilians, use of prohibited methods of war, demolition of civilian and critical infrastructure facilities, artificial creation of a humanitarian catastrophe in Ukraine or its separate regions.

Therefore, reporting entities should take into account the provisions of the adopted Law when applying a risk-based approach in customers’ service and to financial transactions related to the terrorist state.

For reference:

The process of recognizing Russia as a terrorist state by other countries is ongoing. The Seimas, the Parliament of Lithuania, unanimously adopted a resolution recognizing the war against Ukraine by the Russian Federation as genocide of the Ukrainian people. In Resolution, the Parliament also noted that Russia is a state that supports and commits terrorism.

Some international leaders have also suggested recognizing Russia as a sponsor of terrorism. The Verkhovna Rada supported the appeal No. 7341 to the House of Representatives and the Senate of the US Congress to recognize Russia as a state sponsor of terrorism.

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