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President Volodymyr Zelensky announced on July 5 that he had signed a decree to impose sanctions on 18 holding companies associated with Russia.
"Our principle is evident: the activities of all individuals and entities that contribute to the ability of the Russian regime to terrorize Ukraine and the international rules-based order must be stopped," Zelensky wrote.
According to Zelensky, Ukraine was "doing everything to synchronize all sanctions across the maximum number of jurisdictions."
The President's Office lists a number of holding companies located in Russia, Cyprus, and other locations that were sanctioned.
According to the document which lists the sanctioned holding companies, they will be subject to having their assets in Ukraine blocked, meaning that they will not be able to withdraw their capital outside of Ukraine.