The Russian payment system Zolotaya Korona will cease operations in the EU due to sanctions
The European division of the Russian payment system “Zolotaya Korona”—KoronaPay Europe—is surrendering its license to operate in the European Union and has already stopped accepting new transfers.
The system’s payment center was targeted by EU sanctions as part of the 21st package of restrictions adopted on July 23. The package, in particular, significantly tightened sanctions against the Russian financial sector.
The company has initiated the process of surrendering the license, which was issued to its European entity by the Central Bank of Cyprus in 2018. The regulator has also begun the process of revoking the license.
New transfers via KoronaPay Europe are currently unavailable. Funds from transfers sent earlier can be refunded through the company’s app.
Source: Russian media.
Earlier, New Zealand Foreign Minister Winston Peters announced a new package of sanctions against individuals and organizations supporting Russia’s war against Ukraine. The sanctions list also includes individuals involved in the abduction and forced re-education of Ukrainian children.
Switzerland has expanded its sanctions lists against Russia over its war against Ukraine, adding nine individuals and 45 organizations. The updated restrictive measures by the State Secretariat for Economic Affairs (SECO) took effect on August 11. Information regarding 11 additional individuals and companies already subject to sanctions was also updated.
