The media reported on the blocking of accounts of British firms due to trade with Ukraine

In the UK, banks are forcibly closing the accounts of local firms that do business with Ukrainian companies over fears of Russian sanctions and money laundering. About it writes Politico newspaper.

This problem is mentioned in a letter from the co-chairman of the British-Ukrainian Chamber of Commerce (BUCC) Bate Thoms to the British Secretary of the Treasury Andrew Griffith, which the newspaper read. Thoms noted that British companies are “afraid to trade with Ukraine.” The BUCC received complaints from a firm whose bank accounts were blocked due to transactions with Ukrainian partners. According to Thoms, even “one Ukrainian transaction” can lead to account closure.

Banks note that they are complying with their legal and regulatory obligations, the newspaper writes, which relate, among other things, to Western sanctions against Russia. Credit institutions recognize that transactions with regions not controlled by Kyiv are complex and there may be delays in checks, however, trade with Ukraine is not directly prohibited.

Toms says in the letter that British banks identified Ukraine “decades ago” as “a risky jurisdiction for their clients to do business”, but the situation has since improved. James Watkins, Secretary of the British-Ukrainian Business Council, notes that this situation hinders the development of relations between countries and has a great impact on support for Ukraine.

London provides Ukraine with military and financial support. In June, at the conference of donors to Ukraine, British Prime Minister Rishi Sunak declaredthat London will give the World Bank three-year guarantees for loans to Ukraine totaling $3 billion. In addition, the UK will allocate a grant of 250 million pounds to Kyiv. Russia has repeatedly stated that it opposes military and other assistance to Ukraine from Western countries.