Bank owned by Ukraine’s fifth president may be deprived of another licence due to sanctions
Pravda Ukraine
The Kyiv-based International Investment Bank (IIB) may lose its securities trading licence after sanctions are imposed on its beneficial owner, Petro Poroshenko, the fifth president of Ukraine and an MP for the European Solidarity party.
Source: a decision under consideration by Ukraine’s National Securities and Stock Market Commission (NSSMC), according to a response from the watchdog to an inquiry from Ekonomichna Pravda
Details: In particular, the NSSMC reported the receipt of an action plan on 18 February 2025 for implementing a decree on sanctions against several individuals, including Petro Poroshenko. The plan designates the Commission as one of the bodies responsible for enforcing the sanctions restrictions.
“Upon receipt of the Decree issued by the Ukrainian president, the structural units of the Commission have conducted an analysis of the ownership structure of International Investment Bank Joint-Stock Company and other professional participants in capital and commodity markets. The analysis identified a person subject to personal special economic and other restrictive measures (sanctions),” the NSSMC said.
“At the moment, the Commission is considering taking appropriate measures stipulated by law,” it added.
Notably, under Article 74 of Ukraine’s Law On Capital Markets and Organised Commodity Markets, a sanctioned person cannot possess a significant share (more than 10%) in the capital of an organisation licensed by the NSSMC.
Read also: Sanctions, Zelenskyy, and the prospect of a jail term: an interview with Petro Poroshenko
International Investment Bank possesses the relevant licences from the NSSMC for securities trading. The bank ranked 7th in securities trading in January 2025, according to the PFTS Ukraine Stock Exchange, a leading stock exchange in Ukraine.
Background:
- The National Bank of Ukraine (NBU) had previously announced restrictions against Petro Poroshenko’s IIB. Specifically, it stated that a decision was being considered to prohibit Poroshenko from exercising his voting rights with respect to his shares in the IIB.
- On 12 February, Ukraine’s National Security and Defence Council decided to impose sanctions against Petro Poroshenko and several other citizens.
- The National Bank stated that Petro Poroshenko holds 64.98% of the shares in the International Investment Bank through ZNKIF Prime Assets Capital.
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