Ukrainian gov't approves nationalization of Russia-linked bank

KIEV, July 21 (Xinhua) -- The Ukrainian government on Friday adopted a resolution to withdraw the Russia-linked Sense Bank from the market and nationalize it, said the cabinet's press service.

"The procedure of the bank's nationalization, including the appointment of a new management, will be ensured as soon as possible for its smooth operation," said a statement by the government.

The Ukrainian Finance Ministry will temporarily take control of the bank, and seek to attract private investors once the martial law in the country comes to an end, it said.

The resolution was adopted after the National Bank of Ukraine (NBU) proposed to nationalize the bank, saying that the owners of the financial institution are Russian citizens, who were put under Ukrainian and international sanctions.

Sense Bank, formerly known as Alfa Bank, is among the largest financial institutions in Ukraine, and is included in the NBU's list of systemically important banks.

Ukraine imposed a series of sanctions against Russian companies and individuals due to the Ukraine crisis.