Designation identifiers
- UKSL unique ID
- RUS0233
- OFSI group ID
- 14178
- Designation type
- Entity
- Date designated
- 22 February 2022
- Last updated
- 9 April 2025
Regimes
- The Russia (Sanctions) (EU Exit) Regulations 2019
Designation sources
- UK
Sanctions imposed
- Asset freeze
- Trust Services Sanctions
- Director Disqualification Sanction
- Prohibition on Correspondent banking relationships and processing payments
Official reasons
- JOINT STOCK COMPANY 'BLACK SEA BANK FOR DEVELOPMENT AND RECONSTRUCTION' hereafter, JSC 'BLACK SEA BANK FOR DEVELOPMENT AND RECONSTRUCTION' is a Crimean bank that was created immediately after the illegal annexation of Crimea in 2014. It has capitalised on the sector’s fear of Western sanctions and the lack of banks in Crimea. By operating in Crimea, JSC 'BLACK SEA BANK FOR DEVELOPMENT AND RECONSTRUCTION' has consolidated Crimea into the Russian Federation through the financial system. The trust services sanctions were imposed on 21/03/2023.
Other information
- Other suspected locations: 22 regional offices in Crimea. The prohibition on correspondent banking relationships and processing payments was imposed on 15/12/2023. The Director Disqualification Sanction was imposed on 09/04/2025.
Addresses
- Lines: Bil’shovyts’ka Street
- Lines: 24 Simferopol
- Lines: Crimea
- Country: Ukraine
!
This directory is not a substitute for sanctions compliance screening. Ownership and control rules can apply to entities that are not separately named. Verify the current official list and obtain appropriate advice.