Minister of Finance of Ukraine met with the EU Commissioner for Financial Stability, Financial Services and the Capital Markets Union

Today, the Minister of Finance of Ukraine Serhii Marchenko held an online meeting with the EU Commissioner for Financial Stability, Financial Services and the Capital Markets Union Mairead McGuinness.

The parties discussed the active strategic cooperation of the Government of Ukraine with the European Union and the strengthening of sanctions pressure on russia.

Serhii Marchenko thanked for the long-term cooperation and noted that the EU and other international partners played a key role in stabilizing Ukraine's financial system under current developments.

During the conversation, Serhii Marchenko asked Mairead McGuinness to toughen sanctions pressure on russia, namely to strengthen financial monitoring of russia and terrorist companies related to the country, in accordance with current global and European standards, including FATF recommendations. It is also important to pay special attention to the freezing of assets of russian companies for terrorist financing.

The source of funding for the war from russia can be not only direct remittances, but also securities transactions. Therefore, during the meeting, the Minister of Finance suggested that the EU, in addition to blocking banking institutions and the possibility of conducting transnational monetary transactions, consider sanctions for blocking transnational securities transactions at the level depository. It is important to limit the correspondent relations of international financial depositories, such as Clearstream, Euroclear and others, with russia's central depositories, such as the National Settlement Depository.