Major U.S. and European banks should be prosecuted for “committing war crimes” over their financing of trade with the Russian regime, according to a top aide to Ukraine president Volodymyr Zelenskyy. Oleg Ustenko, economic advisor to Zelenskyy, said the Ukrainian government believes banks, such as JPMorgan, HSBC and Citi, are aiding the Kremlin’s war efforts in Ukraine through financing companies that trade oil with Russia. “Everybody who is financing these war criminals, who are doing these terrible things in Ukraine, are also committing war crimes in our logic,” he told CNBC’s Hadley Gamble Tuesday on “Capital Connection.” JPMorgan, HSBC and Citi did not immediately respond to CNBC’s request for comment on those allegations. Asked directly if he wants to see these banks prosecuted for war crimes, Ustenko said: “Exactly.”
Ustenko said Zelenskyy believes these banks should be held accountable for prolonging the conflict and the war on Ukraine. His comments came in response to a FT report last week, which said that Ukraine’s government wrote to the chiefs of U.S. and European banks — such as Jamie Dimon from JPMorgan and Noel Quinn from HSBC — urging them to cut ties with the groups that are trading Russian oil. According to the FT, the letters accused Citigroup and Credit Agricole of “prolonging” the war by providing finances to companies that ship Russian oil. The letters also reportedly warned the banks will not be allowed to take part in the reconstruction of Ukraine when the war is over.
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