European banking sector’s response to the war in Ukraine
The European banking sector stands in solidarity with Ukraine and its people, strongly condemning the Russian aggression. Almost five million people have fled their homes to countries neighbouring Ukraine since the beginning of the Russian invasion. To help them access financial services, banks across Europe have introduced simplified procedures for opening bank accounts, on some occasions offering basic accounts and payment cards free of charge. Several banks have waived transfer fees to Ukraine and Moldova to help refugees send money to their families. To help address the humanitarian crisis caused by the Russian invasion, banks have donated to charitable organizations and are continuing to raise funds to help those affected by this aggression. The sector also continued to boost awareness about risks associated with the war in Ukraine, including human trafficking and cyberscams. The industry recognises its pivotal role in ensuring the effective implementation of sanctions on Russia and is engaged in an active dialogue with EU policymakers to ensure the appropriate implementation of the restrictive measures imposed by the European authorities.
“European banks have stood firmly with Ukraine and its people from the first days of the Russian invasion. Banks have helped those fleeing to EU countries open bank accounts and have waived fees on transfers to Ukraine to help refugees and others sending money home. Banks have also contributed to the humanitarian relief efforts and will continue to do so, especially in countries that welcome those arriving from Ukraine in large numbers. Most importantly, banks in every single European country are united in implementing the whole range of sanctions against Russia and we constantly work with policymakers to ensure this is done effectively. We will continue to support Ukrainians suffering the consequences of Russia’s attack as long as it is needed.“
Ana Botín, European Banking Federation President, Executive chairman, Banco Santander SA
DONATE
As Poland, Hungary, Slovakia, Romania and other countries neighbouring Ukraine welcome an unprecedented number of refugees, the European banks express their solidarity by donating funds to local NGOs providing humanitarian aid where it’s needed the most. We invite you to discover and donate to our partner organizations.
KEY TOPICS
The European Banking Federation (EBF), the voice of the European banking sector, is closely monitoring and working to address regulatory and financial topics related to the ongoing war in Ukraine.
FROM OUR MEMBERS
Banking associations and banks are taking action to support Ukrainians fleeing the Russian aggression. Learn more and contribute to the initiatives taking place across Europe.
INFORMATION HUB
Find out about the latest developments and initiatives by the European institutions.
-
Ukraine and the EIB, European Investment Bank https://www.eib.org/en/projects/regions/eastern-neighbours/ukraine/index.htm
-
What you need to know about temporary protection, EUAA https://euaa.europa.eu/euaa-response-war-ukraine-vidpovid-euaa-agentstvo-evropeyskogo-soyuzu-z-pitan-pritulkuna-viynu-v#leaflet
-
Europe’s energy regulators stand with Ukraine in today’s power grid synchronisation with Continental Europe, ACER https://www.acer.europa.eu/events-and-engagement/news/europes-energy-regulators-stand-ukraine-todays-power-grid
-
Europe's regions and cities helping the Ukrainian people, European Committee of the Regions https://cor.europa.eu/en/engage/Pages/Help-Ukraine-Info-Support-Hub-for-Regions-and-Cities.aspx
-
Two ECDC staff to join multidisciplinary team in Poland in support of displaced people from Ukraine, European Centre for Disease Prevention and Control https://www.ecdc.europa.eu/en/news-events/two-ecdc-staff-join-multidisciplinary-team-poland-support-displaced-people-ukraine
-
Solidarity in Europe in times of war, European Environment Agency https://www.eea.europa.eu/articles/solidarity-in-europe-in-times
-
Eurojust supports joint investigation team into alleged core international crimes in Ukraine, European Union Agency for Criminal Justice Cooperation https://www.eurojust.europa.eu/news/eurojust-supports-joint-investigation-team-alleged-core-international-crimes-ukraine
-
Education and work information for Ukrainians and EU countries, European Training Foundation, https://www.etf.europa.eu/en/education-and-work-information-ukrainians-and-eu-countries
-
How the EU is supporting Ukraine, European Parliament, https://www.europarl.europa.eu/news/en/headlines/priorities/ukraine/20220127STO22047/how-the-eu-is-supporting-ukraine?xtor=AD-63-[ukraine2022]-[march_2022]-[en]-[banner]-[single_lk]
-
Ukraine War: EUAA deploys to Romania, EUAA, https://euaa.europa.eu/news-events/ukraine-war-euaa-deploys-romania
-
EUAA Response to the War in Ukraine, EUAA (constantly updated), https://euaa.europa.eu/euaa-response-war-ukraine-vidpovid-euaa-agentstvo-evropeyskogo-soyuzu-z-pitan-pritulkuna-viynu-v
-
Council agrees recommendation on the exchange of Ukrainian hryvnia banknotes into EU currencies to support people escaping the war in Ukraine, European Council https://www.consilium.europa.eu/en/press/press-releases/2022/04/13/council-paves-the-way-for-enabling-ukrainians-to-exchange-their-currency-hryvnia-in-all-eu-countries-at-a-fair-exchange-rate/
-
EU-wide operation targeting criminal assets in relation to the Russian invasion of Ukraine, Europol https://www.europol.europa.eu/media-press/newsroom/news/eu-wide-operation-targeting-criminal-assets-in-relation-to-russian-invasion-of-ukraine
-
Timeline - EU response to Russia's invasion of Ukraine, European Council https://www.consilium.europa.eu/en/policies/eu-response-ukraine-invasion/timeline-eu-response-ukraine-invasion