President Volodymyr Zelenskyi implemented the decision of the National Security and Defense Council of January 12 to impose sanctions against the Royal Pay Europe company with a legal address in Latvia.
The relevant decree published on the website of the Office of the President.
Sanctions were imposed for a period of 5 years. They provide for the blocking of assets, the prevention of the withdrawal of capital outside Ukraine, the suspension of the fulfillment of economic and financial obligations, the prohibition of participation in the privatization and leasing of state property, the prohibition of transactions with respect to securities, the issuers of which are persons to whom sanctions have been applied.
According to the media, Royal Pay Europe is owned by a Russian with a Cypriot passport, Serhii Kondratenko. The firm was founded in 2016, in 2017 it received an electronic money establishment license in Britain, which gave it the right to accept payments and service card transactions in European and British jurisdictions, and registered it in Latvia.
It is noted that the company cooperates with the Russian bookmaker 1xBet.
We will remind you that in September of this year, due to the “Russian trail”, the Gambling and Lotteries Regulatory Commission revoked the licenses to operate in Ukraine from Tvoya Bettingova Kompaniya LLC, which operated under the 1xBet brand. Despite this, the pro-Russian bookmaker continues to work illegally in Ukraine and is trying to regain its operating licenses through the courts.
