The Bank of Russia has launched its branches in the Lugansk and Donetsk People’s Republics and Kherson and Zaporozhye regions, the regulator reported on its official website.
The branches belong to the Central Bank’s South Department with head office in Krasnodar, and the information on them has been added to the website’s Territorial Institutes section.
On November 21, Russian President Vladimir Putin’s decree transformed the LPR State Bank to a limited liability company with subsequent transfer to PAO Promsvyazbank. The circulation of the Ukrainian currency, the hryvna, in the Lugansk People’s Republic stops starting January 1, 2023, due to the LPR’s accession to the Russian Federation.
The Lugansk People’s Republic, Donetsk People’s Republic and Zaporozhye and Kherson regions acceded to Russia on September 30, 2022, based on the results of the unification referenda.*i*ie
