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Zelensky endorses NSDC decision on sanctions against SIA Royal Pay Europe (Latvia)
KYIV. Jan 13 (Interfax-Ukraine) – President of Ukraine Volodymyr Zelensky has put into effect the decision of the National Security and Defense Council (NSDC) of January 12, 2023 on the imposition of economic sanctions against a legal entity – Royal Pay Europe LLC (SIA Royal Pay Europe) (Latvia, Riga).
The corresponding decree was signed by the head of state on Thursday, it is posted on the presidential website.
According to the information on its website, Royal Pay is a brand that brings together a group of companies that provide a wide range of services in the field of e-commerce, in particular, electronic payment processing services; effective compliance systems and optimization of financial solutions.
Zn.ua, in early October last year, published a closed document of the NBU to banks, in which the regulator announced that it had received information from law enforcement agencies about their implementation of measures to investigate the facts of the withdrawal of non-cash assets outside Ukraine in order to mask the sources of origin of funds and property, and of making financial transactions with residents of the Russian Federation.
"According to the above information, head and ultimate beneficiary owner of SIA Royal Pay Europe (Latvia) Sergey Kondratenko is a citizen of the state that carried out armed aggression against Ukraine, and he uses dual citizenship and a company registered in Latvia to circumvent international sanctions and finance the state that committed armed aggression against Ukraine, and to legalize (launder) property obtained by criminal means from the illegal organization of the gambling business on the territory of Ukraine and the Russian Federation," the National Bank noted.
The addendum to the decision states that the sanctions will be in effect for five years.
In addition, the types of restrictions that apply to Royal Pay are indicated. In particular, this is the blocking of assets, preventing the withdrawal of capital, stopping the fulfillment of economic and financial obligations, a ban on participation in the privatization and leasing of state property, and a complete or partial ban on transactions in securities.
