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Occupiers threaten to confiscate property from businesses that use hryvnias

Tuesday, 10 January 2023, 20:07

Since the start of the new year, Russians in the temporarily occupied territories of Ukraine have been raiding entrepreneurs who continue to use the Ukrainian hryvnia in their business, threatening to confiscate their property.

Source: National Resistance Center (NRC)

Quote: "Immediately after the new year began, the occupiers raided local businessmen who were resisting the introduction of the rouble and continuing to use the hryvnia.

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The occupiers are now threatening to confiscate entrepreneurs’ property and seize all their currency for using hryvnias. Yet people continue to use the legal Ukrainian currency."

Details: The Russians are also trying to devalue the hryvnia as much as possible. Exchange rates are basically one to one. The occupiers also charge a 15-20% fee for withdrawing hryvnias from a card.

Background: 

  • On 1 January, the Russians introduced a mandatory rouble zone in the temporarily occupied territories of Ukraine in an attempt to phase out the Ukrainian hryvnia.

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