Ukraine Central Bank Confirms System Still Running Fine

The Ukrainian banking system has been running smoothly and banks have been replenishing cash when they can, Reuters reported Tuesday (March 1), citing Kyrylo Shevchenko, the central bank governor.

Schevchenko said online banking was running fine and non-cash transfers were still operating, including to the army.

PYMNTS has written about the conflict in Ukraine, which was invaded by Russia last week. One report said the U.K. had plans to pass legislation designed to stop laundering of dirty money, which had been used to support the war from Russian president Vladimir Putin’s end.

U.K. Foreign Secretary Liz Truss said the U.K. was standing with Ukraine and its democracy, and wrote that there will be “nowhere left to hide” for the wealthy people linked to Putin and his regime.

“More kleptocrats will be hit with restrictions in the coming weeks,” she said. “Nothing is off the table.”

Read more: UK Moves to Curb ‘Dirty Money’ for War in Ukraine

The bill will reportedly make it so overseas companies who control property and land in the U.K. must register with the government.

The measure was originally introduced in 2018 to stop the £100 billion ($133.3 billion) in illegal financing that the U.K. Crime Agency estimates has been moving through the country every year.

Switzerland has also recently broken its usual neutrality, freezing all the Russian assets in the country. The move was intended to adopt the West’s sanctions against Russia over the Ukraine invasion, according to a Sunday (Feb. 28) press release.

See also: Switzerland Breaks Neutrality, Freezes Russia’s Assets

Four of the seven members of the country’s Federal Council also wanted to extend the financial sanctions to include Russian President Vladimir Putin, Prime Minister Mikhail Mishustin and Foreign Minister Sergei Lavrov, effectively immediately.

The country said it was reaffirming “its solidarity with Ukraine and its people” in doing so, adding that it also planned to deliver relief supplies for those who have fled to Poland.

The statement added that the defense of peace and security, along with respect for international law, were among the values the country wanted to promote.