KIEV (Pakistan Point News / Sputnik - 20th April, 2019) Ukrainian President Petro Poroshenko discussed threats of overturning nationalization of Ukraine's major PrivatBank with US State Secretary Mike Pompeo in the wake of a court decision to rule the nationalization illegal, Poroshenko's press service said in a statement.
The court decision was made on Thursday.
"President of Ukraine Petro Poroshenko held a phone conversation with US Secretary of State Mike Pompeo ...The parties discussed the threats to renationalization of PrivatBank and the necessity of preserving macrofinancial stability of Ukraine," the statement, published on Poroshenko's website on Friday, read.
The Ukrainian government nationalized PrivatBank, which then held around one-third of all deposits in the country, in 2016, referring to the need to protect its customers and avert a meltdown of the Ukrainian economy.
The decision prompted one of the bank founders and Ukraine's most wealthy businessmen Ihor Kolomoyskyi to challenge it.
Poroshenko has said that Ukraine risked default if the nationalization of PrivatBank was overturned.
