Ukraine not only brings crushing blows at the invaders on the battlefield but also effectively fights russia on the diplomatic and economic fronts. At the same time, there are sanctions pressure on russians in the energy and financial sectors and less strategic sectors. Thanks to the efforts of the Commission for Regulation of Gambling and Lotteries (CRGL), the number of problems faced by russian gambling is also increasing.
From the first days of russia’s war against Ukraine, CRGL demonstrated its clear position of supporting the State in the fight against the invaders and used its powers to preserve the legal gambling market. By advocating sanctions pressure on the aggressor state and, in particular, on russian gambling brands, CRGL consistently contributes to the isolation of russian gambling companies.
The regulator’s efforts have already positively affected the restoration of Ukrainian gambling and limiting the russian one.
First, many foreign gambling companies started to leave the russian market, resulting in the loss of thousands of jobs and tens of millions of dollars in taxes for the russian budget. Those companies still operating in russia experience all the “advantages” of powerful economic sanctions.
Second, most investors in the gambling sector in the region realize that after everything that happened in Ukraine, the russian gambling market will remain toxic for a decade, if it exists at all. At the same time, following the victory, the Ukrainian market will become extremely attractive for investment.
Today, CRGL continues to actively put pressure on russian gambling and associated legal entities. In particular, the Commission recently proposed to impose sanctions against russian betting and lottery entities organizing and conducting online and offline gambling in Ukraine. The Commission has already submitted the corresponding order “On proposals for personal special economic and other restrictive measures (sanctions)” for consideration by the Cabinet of Ministers of Ukraine.
This order contains a list of 38 organizations, betting entities, russian state lotteries, ground-based casinos, slot machine halls, and one monopoly financial company of russian origin, through which all bets are made. In particular, this list includes the Bookmaker Pub LLC operating under the 1xSTAVKA brand, which has publicly announced financing of russian terrorists in Ukraine.
The approval of this order should take place as soon as possible since it allows to:
(1) block Ukrainian gamblers from accessing russian gambling websites;
(2) stop transferring our citizens’ data and funds to the aggressor country;
(3) exclude Ukraine from the chain of processes and companies involved in the laundering of funds obtained by criminal means through russian gambling companies;
(4) apply international sanctions to relevant companies with the help of our foreign partners.
It is worth reminding that according to the specialized law on gambling legalization, representatives of the aggressor state cannot obtain a license in Ukraine and organize and conduct relevant activities. The Commission’s actions clearly demonstrate that no matter how complex legal workarounds russian gambling companies come up with to gain access to the Ukrainian market, they are doomed only to sanctions and losses.
Anton Kuchukhidze, Chairman of the Ukrainian Gambling Council, exclusively for the Ukrainian News
Comments