Current condition of russian sanctioned banks

After Russia’s brutal large-scale invasion, the West imposed sanctions against the Russian bank system so that the aggressor state could not finance the war. However, after over a year of terror and war crimes in Ukraine, the Russian financial system managed to survive.

Despite disconnection from SWIFT, restrictions on operations, and sanctions against banks, Russian state-owned banks held the balance. Undoubtedly, as well as sanctions against Russian bank owners and people who are involved in aggression against Ukraine, are effective.

At the same time, major banks and oligarchs still have the access to some of the frozen assets. What will be the future of sections against the Russian financial sector and will the long-term effect be stronger?

UKRAINE IN FLAMES project is created by Ukraine Crisis Media Center and NGO “Euroatlantic Course”. We are aiming at searching a loud support for Ukraine in the war started by Russia on the 24th of February 2022.

If you want to support Ukraine against Russian aggression, check the link with recommendations by Ukraine Crisis Media Center –

NGO Euroatlantic Course collects donations to support Ukrainian Army and civilians –

How you can help Ukraine against Russian aggression:

Come back alive – (works directly with the command and personnel of military units, purchasing infrared thermal imaging cameras, night vision goggles, hemostatics etc); 

CO Serhiy Prytula Charity Foundation – (purchases supplies for Ukrainian army, such as armor, ammunition, first-aid kits, cars and ATV, humanitarian aid for civilians, and food for animals);

UNITED 24 – (launched by the President of Ukraine Volodymyr Zelenskyy as the main venue for collecting charitable donations in support of Ukraine. Funds will be transferred to the official accounts of the National Bank of Ukraine and allocated by assigned ministries to cover the most pressing needs)

Army SOS – (manages purchases of necessary ammunition, shields, intercommunication and reconnaissance facilities, etc. and delivers all goods directly);

Vostok SOS – (raising funds for various needs of the army);

Phoenix Wings – (the appropriate equipment & uniform, personal non-lethal protection (vests, helmets), required treatment of the wounded soldiers, and repair of the buildings used by the army).