Press Releases

Treasury Renews Memorandum of Understanding and Cooperation in Cybersecurity with Ukraine

WASHINGTON – Today, the U.S. Department of the Treasury announced that it has signed memorandum of understanding and cooperation in cybersecurity with the National Bank of Ukraine. The Memorandum renews the shared understanding on cybersecurity and operational resilience, which has been in place since 2020. As a part of that effort, the Memorandum of Understanding (MoU) facilitates an ongoing exchange of information between the National Bank of Ukraine and the Treasury Department.

“The U.S. Treasury remains committed to a strong Ukrainian economy, which demands resilient financial sector critical infrastructure. Our ongoing partnership with the National Bank of Ukraine has reinforced that resilience by enabling the flow of information on emerging cybersecurity threats,” said Todd Conklin, Deputy Assistant Secretary for Cybersecurity and Critical Infrastructure Protection. 

Conklin added, “Not only do these ongoing efforts strengthen cybersecurity in Ukraine, but they also enable the U.S. Treasury team to stay ahead of risks to our own financial services sector. Threats that confront our counterparts in Kyiv are likely to target the United States as well. Close collaboration and regular exchanges of information help both countries remain prepared.”

The MoU entered into effect on April 4, 2024, after being signed by representatives in Washington and Kyiv. It establishes practices for sharing information about cybersecurity threats and incidents, cyber threat actors, and best practices. The MoU is guided by the principles of transparency, voluntariness, and confidentiality. It also encourages parties to exchange views, participate in expert forums and visits, provide assessments and capacity support, and conduct training.