The Russian invasion of Ukraine has led to considerable death and destruction within that country. A large proportion of the Ukraine population have been forced to flee for their own safety. In response, governments and companies in the West have been very quick to impose sanctions on Russia. Many private companies such as Apple and McDonalds have decided to leave the country.
We suspect that the financial sanctions imposed on Russia were more severe than what their government and its agencies anticipated. Sanctions included restrictions preventing use of the ‘SWIFT’ electronic payments system, a freezing of assets owned by the Russian state and certain oligarchs, and removal from the Mastercard and Visa payments networks.
Several companies operating in Russia and Ukraine have received funding from P2P investors. Below we have listed the 3 key impacts of the conflict onto them, and an update on which P2P platforms have been most impacted by the conflict.