Russian Retailer Wildberries Expect No Impact From Kiev's Sanctions On Its Activities

Russia's largest online retailer Wildberries does not expect a negative impact from Ukraine's sanctions on the company's work, but warns that Ukrainian entrepreneurs and consumers may suffer from these sanctions, the company said in a statement

MOSCOW (UrduPoint News / Sputnik - 27th July, 2021) Russia's largest online retailer Wildberries does not expect a negative impact from Ukraine's sanctions on the company's work, but warns that Ukrainian entrepreneurs and consumers may suffer from these sanctions, the company said in a statement.

Ukrainian President Volodymyr Zelenskyy last week put into effect three-year National Security and Defense Council sanctions against a number of individuals, including Russian citizens, and legal entities, including Wildberries. The sanctions provide for blocking assets, preventing the withdrawal of capital from Ukraine, suspension of the fulfillment of economic and financial obligations, termination of provision of telecom services and use of public telecommunication networks, a ban on the transfer of technology, rights to intellectual property.

"Wildberries does not expect any negative impact on the company's activities. Despite the rapid growth of the company's popularity in Ukraine, sales in this country are 0.

01% of the current Wildberries' turnover," the company said.

"Thus, restrictions may have a negative impact on representatives of small businesses in Ukraine, for which Wildberries is one of the most popular trading platforms for the sale of goods in 14 foreign countries, including Russia, the United States, Germany, France, Italy and many others," it said.

Wildberries emphasizes that it sells goods that other foreign players have been selling on the territory of Ukraine for a long time.

"Despite this, the restrictions affected only Wildberries, which indicates a policy of 'double standards' and discrimination in relation to our business," the statement says.

"Thus, according to the company, the imposed sanctions can harm only Ukrainian entrepreneurs and buyers who will be deprived of a wide range of goods at affordable prices," the company concluded.