PIN-UP Global responds to sanctions imposed on PIN-UP Ukraine by local authorities

PIN-UP Global has responded to the sanctions imposed on PIN-UP Ukraine by the local authorities. The measures were taken after the Ukrainian brand was accused by the State Bureau of Investigation (SBI) of alleged ties to Russia. 

Since the accusations were presented, the company has been defending itself in court. However, PIN-UP Global says several companies associated with the brand have already been added to sanctions lists, despite the legal process still ongoing.

"As an international holding, we have substantial experience engaging effectively
with government bodies in various countries," PIN-UP Global said in a statement. "The sanctions imposed by Ukrainian authorities following unsubstantiated accusations against our partner in Ukraine and the launch of court proceedings were, unfortunately, to be expected."

According to PIN-UP Global, in recent years, the sanctions mechanism in Ukraine has "increasingly been used as a tool to apply pressure on businesses," a measure that the international holding says has extended beyond the gambling sector.

"These practices only undermine trust in Ukraine, its regulatory institutions, and the officials who, on the one hand, encourage investment in a country that urgently needs it to withstand military aggression, and on the other, block companies that are tax leaders and impose sanctions against them," the company said.

"We intend to show the European market, through our case, how Ukrainian law actually works — whether it truly protects businesses from raiding or facilitates it," PIN-UP Global further added. "Our legal team is firmly committed to defending our position because we stand by the truth, and we will not allow the reputation of a brand with over nine years of history as a trusted and transparent partner to be discredited."