Multiple countries have imposed broad economic sanctions in response to the extraordinary events that followed Russia’s invasion of Ukraine.
To meet these requirements or sanction orders coming from different countries, the Public Mint is temporarily suspending all fiat deposits and withdrawals from Russia and Belarus, as well as other previously unsupported countries.
Public Mint, in its press release, mentioned that they recognize that this may have an impact on your business and apologize for any inconvenience. This is an ongoing and changing situation. Please keep an eye on the Medium and social media announcements for updates, or contact the support team if you have any questions.
The Public Mint is a multi-layered ecosystem that allows Fiat money to flow freely and instantly, without borders or friction. The Open platform from Public Mint allows any currency to be easily added to the blockchain and provides a rich environment for business and innovation to thrive.
Public Mint is a widely accepted open blockchain combined with an API platform that enables fiat money to enjoy all of the benefits of cryptocurrency without the volatility and complexity. Globally, people and businesses are free to build any type of fiat-based application or service on top of Public Mint, fueled by money and free of the constraints of traditional banking rails.
Public Mint isn’t the only sanction or step taken against Russia, but the West, including the US, is taking big sanctions to diminish the overall power of Russia in the international market.
The EU announced harsh new sanctions against Russia on Sunday, closing its airspace to Russian planes and prohibiting Russian state media outlets from broadcasting in the bloc.
In response to Russia’s invasion of Ukraine, Canada has closed its airspace to “all Russian aircraft operators,” Ottawa announced on Sunday.
Spain announced on Sunday that it would close its airspace to Russian carriers, following similar moves by several European countries in response to Moscow’s invasion of Ukraine.