The inclusion of Sportmaster Operation Pte.Ltd in the sanctions list is unreasonable and unfounded, Sportmaster-Ukraine LLC continues to work exclusively within the legal framework, CEO of Sportmaster-Ukraine Liudmyla Knysh said.

"The precedent for the inclusion of Sportmaster Operation Pte.Ltd in the sanctions list is unreasonable and unfounded, causing many questions, the answers to which even the leading lawyers of Ukraine cannot yet give," the company said in a statement, which is available to Interfax-Ukraine.

According to Knysh, today there are no reasons and grounds for limiting the company's economic activities, and Sportmaster continues to work exclusively within the legal framework.

"All these years the Sportmaster-Ukraine has been and is conducting an independent, honest and open business, based strictly on the compliance with the laws of Ukraine, established rules and the business code, while remaining apolitical," she said.

"Today, Sportmaster-Ukraine stores continue their work, observing all the norms of international and national legislation. Obligations to customers and partners are fully fulfilled in accordance with the reached agreements," she said, adding that one of the company's priorities is to preserve workplaces for employees (about 1,500).

According to the CEO, over 25 years of Sportmaster-Ukraine's existence, more than 150 stores have been opened, including Sportmaster and franchised Columbia, Sportlandia and Weekender across the country.

"The company turns 25 in 2021. During its activity, it has become one of the largest retailers in the sports goods market. We stand for honest business and market development in a transparent competitive environment," Knysh said.

As reported, Singapore's Sportmaster Operations Pte. Ltd, which directly owns Sportmaster-Ukraine LLC, has been included in the sanctions list by the Ukrainian National Security and Defense Council's decision and the Ukrainian presidential decree dated February 19, 2021.