` Stepan Kubiv States Reports a Russian Bank was Financing Supporters for Federal System in Ukraine is Unconfirmed ‘

#AceFinanceNews – KIEV – April 16 – Chairman of the National Bank of Ukraine Stepan Kubiv has declared that earlier reports alleging that one of the Russian banks was financing supporters of the establishment of a federal system in Ukraine have not been confirmed, the bank chairman declared before a session of the Ukrainian Rada opened on Wednesday.

‘”The reports have not been confirmed,” local media agencies quoted him as saying.

On Tuesday, Ukraine’s Security Service (SBU) opened a criminal case against an employee of one of the Russian banks. SBU press service claimed that the Russian bank had been financing supporters of the establishment of a federal system in the east of Ukraine.

However, the exact name of the Russian bank, which aroused suspicion in Ukraine, was not disclosed.


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`Ukranian Parliament Authorised Disbursement of $218 Million’

#AceFinanceNews says the `Ukrainian Parliament on Monday, February 24, authorized the disbursement of 1.96 billion hryvnia ($218 million) for early presidential elections to be held on May 25.


The decision was passed by 352 votes with the required 226 votes.


English: Verkhovna Rada - Parlament of Ukraine...

English: Verkhovna Rada – Parlament of Ukraine Українська: Будинок Верховної Ради України Русский: Здание Верховного Совета Украины (Photo credit: Wikipedia)


Yevgeny Geller, chair of the budget committee, said the funding would be secured by redistributing other expenditures.


The presidential election campaign will start in Ukraine on February 25, the Central Election Commission said.


“The election campaign starts automatically based on the resolution of the Verkhovna Rada [parliament] on the appointment of early elections of the president of Ukraine on May 25. At a meeting on Monday, the Central Election Commission will not make a statement on the start of the election campaign,” the Commission said.


According to preliminary estimates, the early presidential elections will cost 1.9 billion hryvnia (over $200 million).


On February 22, the parliament adopted a resolution stating that President Viktor Yanukovych had given up his constitutional duties and appointing early presidential elections for May 25, 2014.




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