Bank of Russia announces opening of "branches" in occupied territories of Ukraine

The Bank of Russia has announced that it is opening "territorial institutions" in the so-called "LPR" and "DPR" [Luhansk and Donetsk People’s Republics] and in the occupied territories of Kherson and Zaporizhzhia Oblasts.

This is reported by the Russian newspaper Vedomosti, which refers to data on the website of the Russian regulator.

The "branches" for the "DPR"/"LPR" and Kherson and Zaporizhzhia Oblasts have been "assigned" to the bank’s Southern Main Directorate in Krasnodar, to which the "branch" in occupied Crimea had also previously been "assigned".

In late November, Russian President Vladimir Putin instructed that "territorial institutions of the Central Bank of the Russian Federation should be set up" in the self-styled "LPR" and "DPR".

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