Last Updated: January 19, 2026
Black Sea Bank for Development and Reconstruction
Aliases
Black Sea Bank Development and Reconstruction; Black Sea Bank of Development and Reconstruction; Joint Stock Company Black Sea Bank for Development and Reconstruction
Address
Bil’shovyts’ka Street, 24 Simferopol, Crimea, Ukraine
Official reason
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...
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.
Date of listing
2022-02-22
Program information
Authority
UK
Program
The Russia (Sanctions) (EU Exit) Regulations 2019
Regime
UK country specific
Target State
Russia
Measures
Asset freeze and making available provisions, Trade sanctions, Travel bans, Transport sanctions
Sanctions Portfolio
• The Regulations impose financial sanctions through a targeted asset freeze on designated persons and prohibitions on making funds or economic resources available. This involves the freezing of funds and economic resources (non-monetary assets, such as property or vehicles) of designated persons and ensuring that funds and economic resources are n...
Official Information
The Russia (Sanctions) (EU Exit) Regulations 2019 came fully into force on 31 December 2020. They are intended to ensure that certain sanctions relating to Russia continue to operate effectively. You should also review the following regulations to find out any changes made to the Regulations: the Sanctions (EU Exit) (Miscellaneous Amendments) (No...
Additional Details
Licensing and exception provisions are contained in Part 7 of the Regulations.
Program URL