The Ministry of Internal Affairs said on Monday that the suspects were arrested in Gostomel, just outside the capital Kiev in December, "thanks to the vigilance of locals, the police and other security forces."
The painting, depicting a woman with her hair in curlers and a gas mask holding a fire extinguisher, was painted on the outside wall of a burnt-out building.
The suspects, from Kiev and Cherkassy on the west bank of the Dnepr river, managed to separate it from the wall by prising away the rendered surface, leaving bare brick exposed. They had planned to carry it away on planks before they were caught red-handed.
The mural was one of seven stencilled on walls around the country by the anonymous graffiti artist in November, which he said were "in solidarity with the people of Ukraine" during Russia's military de-Nazification operation.
"These images are a symbol of our struggle against the enemy," Kiev regional governor Oleksiy Kuleba posted on Telegram at the time of the arrests in December. "These are the stories about the support and solidarity of the entire civilized world with Ukraine. Let's do everything to preserve the works of street art as a symbol of our future victory."
Gallery technicians display a Banksy called Love is in the Air screenprint in colours, 2003, on wove paper, numbered 412/500 in pencil at Christie's auction rooms in London, Friday, March 26, 2021
© AP Photo / Kirsty Wigglesworth
Banksy's activism goes beyond his politically-tinted murals around the world. He also chartered a boat to pick up migrants being trafficked across the Mediterranean and carry them to European ports. However, the poorly-maintained vessel had to be rescued by the Italian coat guard after it broke down at sea.