Economy

WebMoney electronic payment system placed on Ukraine's sanction list

The WebMoney electronic payment system has been placed to the sanction list of the National Security and Defense Council (NSDC) of Ukraine.

The appendix to the NSDC decision of Ukraine dated May 2, 20018, published on the website of the head of state, includes WM Transfer Ltd. (Lithuania).

Sanctions envisage blocking of assets, limiting or stopping the provision of trade transactions, preventing the withdrawal of funds outside Ukraine, suspending execution of economic and financial liabilities, annulling or suspending of licenses.

Other sanctions also apply to this company, including a ban on issue of permits and licenses of the National Bank of Ukraine (NBU) to invest in a foreign state, the placement of currency on accounts and deposits on the territory of a foreign state, imports and exports of currency from Ukraine, a ban from registering as a participant of the international payment system by the NBU and a ban from transferring technologies and rights to intellectual property.

In addition, according to the sanctions, a ban to provide services to give access to the resources and services of WebMoney by Internet providers, including 40 sub-domains.

The similar sanctions are imposed on BMP and WebMoneyRu companies.

The sanctions are introduced for three years.

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