Newspaper: Ukraine calls on US and European banks to boycott Russian oil companies

The Financial Times reported that the Ukrainian government has demanded that US and European banks sever ties with Russian oil companies, threatening to sue them in the International Criminal Court.

The newspaper quotes Ukrainian presidential adviser on economic issues Oleg Ustenko, who said that letters on this matter were sent to the American bank JPMorgan Chase James Damon and the British bank HSBC Noel Quinn.

The newspaper also saw letters addressed to the American bank Citigroup and the French Credit Agricole, in which they demanded that Kyiv stop financing companies that trade and transport Russian oil, and urged them to sell their stakes in Russian oil and gas companies.

Ustenko stressed that the Ministry of Justice of Ukraine will file lawsuits against banks in the International Criminal Court, and Ukrainian intelligence is working to collect information about the cooperation of Western banks with Russian oil and gas companies.

“In my opinion, they are committing a war crime because they are helping the Putin regime and thus supporting it,” a Ukrainian official told the Financial Times.

The newspaper pointed out that the International Criminal Court cannot initiate investigations against governments or companies, but can initiate investigations against officials of these companies.

Zelenskiy’s adviser criticized a JPMorgan Chase report that warned oil prices could hit $380 a barrel if Russia cuts output in response to Western sanctions.

In response to a Financial Times request for comment, JPMorgan Chase reaffirmed its “commitment” to sanctions against Russia, while Citigroup and Credit Agricole confirmed they were ending their operations in Russia.

HSBC declined to comment.

Source: Financial Times.

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