Electronic payment system WebMoney was in the list of sanctions on Ukraine.
Updated list of legal entities subject to the personal special economic and other restrictive measures (sanctions) included the Russian electronic payment system WebMoney.
This is stated in the presidential Decree No. 126/2018.
Sanctions imposed for a period of three years against the owner of the payment system of the Lithuanian company (WM Transfer Ltd (VM transfer ЛТД2). Similar sanctions are imposed against the CPA and Webmania.
The sanctions include the freezing of assets (temporary restriction of a person’s right to use and dispose of property), restrictions on trading to prevent the withdrawal of capital outside Ukraine, suspension of performance of economic and financial obligations, the cancellation or suspension of licenses and other permits, obtaining (availability) of which is a condition for the exercise of a particular activity.
This company is also subject to other sanctions, including a ban on the issuance of permits and licenses of the National Bank of Ukraine for investing in a foreign state, placement of currency valuables on accounts and deposits in the territory of a foreign state, import and export from Ukraine of currency values, the prohibition of the NBU registration of the participant of the international payment system, the prohibition of the transfer of technologies, rights to objects of intellectual property.
According to the sanctions in respect of WebMoney prohibits Internet service providers provide access services to the Internet users to resources/services to ban Internet service providers provide access services to the Internet users to resources/services, including 40 subdomains.
WebMoney or WebMoney Transfer is an electronic payment system, established in 1998 and owned by WM Transfer Ltd. Technical support and development in Russia. The main verification centre is located in Moscow. WebMoney is not registered in an electronic payment system in Russia, because c legal point of view, the titular characters are not electronic money.
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