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Anton Kuchukhidze: Russian occupier should face global market restrictions

Russia’s war against Ukraine has clearly shown who should not be cooperated with, either politically or economically. The russian market is becoming toxic to any economic activity since the companies still operating and paying taxes become sponsors of a bloody war. That is why most international business representatives leave the russian market and sell their assets, creating golden opportunities for strengthening Ukraine’s economic potential in the region.

From the first day of the war between russia and Ukraine, the global gambling community and Ukrainian legal gambling operators have picked their side. Legal gambling operators provide colossal financial, humanitarian, and technical support to the State and Ukrainian population. Meanwhile, the russian market continues to rapidly drift deeper into the abyss from which there is no way back.

Ukraine, in particular the Commission for Regulation of Gambling and Lotteries (CRGL), also contributes to separating the russian gambling market from the civilized gambling community. According to the CRGL Chairman Ivan Rudyi, in addition to consistently supporting sanctions against Russia and openly calling for the termination of cooperation with the russian government representatives, companies, and organizations, CRGL also works individually with the largest gambling companies and associations to isolate russia from international gambling.

The isolation and “toxication” of russia as a terrorist country offers significant opportunities for the Ukrainian legal gambling market. Companies leaving the russian market are looking for new ways to stay in the region. After the war, Ukraine, due to its investment capacity and human capital, can become a true regional investment hub, including the legal gambling sector.

Clearly, before talking about investment, we first need to win the war and begin to rebuild the economy. However, there is no doubt that after its victory Ukraine will turn into a new prestigious investment hub in Central and Eastern Europe. And the issue here is not only the victory itself but the fact that post-war recovery always needs colossal financial and human resources.

In addition, the post-war recovery is always accompanied by a substantial liberalization of regulatory and tax legislation and the introduction of some preferences for foreign capital. All this makes the country an attractive place to invest and work and creates a positive combined effect contributing to a faster economic recovery. It is what awaits our economy after the victory.

I am sure that the gambling industry will become one of the elements of the post-war recovery and provide tens of millions of dollars of investment and thousands of jobs. We have all the potential, and I hope that we will be able to fully realize it once draft law 2713-d is adopted.

Anton Kuchukhidze, Chairman of the Ukrainian Gambling Council, exclusively for the Ukrainian News


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