Ukraine Sanctions Cyprus-Based Russian Businessman and Wife’s Companies
CIRen
As Ukrainian cities face relentless Russian bombardment, Kyiv has sanctioned a Cyprus-based gambling empire allegedly funneling millions to Russian-linked owners behind the online casino Pin-Up. The Ukrainian owner denies the allegations.
While their cities endure relentless bombardment, some Ukrainians are spending time in shelters placing bets in a digital casino that, according to Kyiv, is linked to the Russian government behind the attacks—unknowingly funneling money to the very regime waging war on them.
That’s the rationale behind Ukraine’s decision last month to impose sanctions on Cyprus-based Russian businessman Dmitriy Punin, who—despite what official documents state—is identified by Ukrainian investigators as the real owner of the online casino Pin-Up.
“Join the winners,” the Pin-Up website beckons, featuring a red-haired woman holding playing cards. “With a reputable Curaçao license, the casino commits to delivering an enjoyable, transparent, and secure gambling environment, making it a perfect choice for players from different parts of the world.”
For players in Kyiv and other cities under attack, the environment is far from enjoyable. But it gets worse.
Ukrainian investigators not only believe those behind the online casino are “filling the aggressor’s budget,” but also warn that the company may have access to the location data of Ukrainian armed forces personnel who use the platform.
Kyiv’s sanctions on Punin, along with nine companies and two Russian business associates, follow an investigation launched in April 2024 into Ukrainian entities linked to Pin-Up. Authorities suspect them of “aiding an aggressor state” and operating illegally in Ukraine.
In January, Ukrainian authorities arrested Igor Zotko,
