Zelensky enacts NSDC decision on sanctions against Royal Pay Europe

President of Ukraine Volodymyr Zelensky has put into effect the National Security and Defense Council decision as of January 12, 2023 on the introduction of economic sanctions against Royal Pay Europe LLC with a legal address in Latvia.

The relevant decree is published on the website of the President’s Office, Ukrinform reports.

"To support a proposal submitted by the National Bank of Ukraine related the application of personal special economic and other restrictive measures (sanctions)," the decree reads.

Personal special economic and other restrictive measures (sanctions) are applied to the legal entity "Royal Pay Europe" LLC (SIA "Royal Pay Europe"). The location of the legal entity is Latvia, Riga.

Sanctions provide for the following measures for five years: blocking of assets, preventing the withdrawal of capital outside of Ukraine, suspension of economic and financial obligations, prohibition of participation in privatization and leasing of state property, prohibition of transactions related to securities issued by persons to whom sanctions have been applied.

Photo: President's Office

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