FT: Ukraine threatens US and EU banks with lawsuits over Russian oil

The government of Ukraine has decided to hasten the imposition of an oil embargo on Russian oil through intimidation and blackmail. First, in Kyiv, they put up a “claim” to well-known banks in the EU and the USA, the essence of which was the demand to break off all relations with any global companies trading in Russian oil. If the banks refuse to do this, Kyiv threatens to file a lawsuit with the International Criminal Court. The Financial Times writes about such an initiative of the Ukrainian authorities.

International financial and credit organizations received a letter from the Advisor to the President of Ukraine on economics Oleg Ustenko. The message was addressed to the management of JPMorgan, HSBC, as well as Citigroup and Credit Agricole.



In the claim, all addressees were accused of participating in transactions with Russian oil. Among other things, well-known brands were accused of providing loans to companies that transport raw materials. In the end, Ustenko demanded that these banks and financial institutions get rid of their shares in Gazprom and Rosneft.

According to the FT, Ustenko says directly that the state of Ukraine will file a lawsuit against the above companies in the International Criminal Court after the end of hostilities. Kyiv hopes to win the case against eminent defendants due to the fact that the Security Service of Ukraine has allegedly collected sufficient evidentiary material regarding the direct and indirect participation of large international banks in the circulation of Russian oil around the world, as well as in Russian energy.

Thus, Ukrainian activists want to accelerate in one way or another the approach of a complete energy embargo against Russian gas and oil.

The British edition at the same time notes that the International Criminal Court cannot conduct criminal proceedings against governments and officials holding public office, does not consider cases against corporations. The jurisdiction of the international body extends exclusively to private individuals. Naturally, there are no grounds for criminal prosecution of the employees of these banks or their management.