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On the App Store, Apple will no longer support sanctioned Russian banks

By Ed D - Crypto Investor 13-07-2022

  • The sanctions imposed by the West have had a significant impact on Russian financial institutions. Apple has joined the list of international companies that have cut relations with the Russian market
  • Due to sanctions imposed by the US and other western nations, Russian banks will no longer be allowed to use Apple Pay
  • Apple joins the anti-Russian sanctions campaign

Three applications of Promsvyazbank, a state-backed Russian bank, are no longer accessible on the App Store, according to RBC, a Russian news agency. Mobile banking, PBS investing and PBS business are examples of these applications.

Now is the time to be investing in cryptocurrency

Following Russia's "special military operation" in Ukraine, the West began putting sanctions on the country. Sanctions have been placed on Russia's four main banks by the United States. These sanctions, according to US Vice President Joe Biden, would "restrict Russia's capacity to do commerce in dollars, euros, pounds, and yen in order to participate in the global economy."

PSB informed its users through email that it was seeking to have the app reinstalled on the App Store. Those who have not yet downloaded the program are encouraged to do so via their website's "PSB Internet Bank."

"All of their assets under US jurisdiction have been frozen," the US Treasury Department said, "and US people and businesses are forbidden from conducting business with them without special approval from the office of foreign assets control." In the midst of Ukraine's continuous assault, the crypto to crypto community has stepped in to help the Ukrainian military and people. Over $4.1 million in cryptocurrency has been given to the cause.

The CEO of FTX, one of the most popular cryptocurrency exchange platforms, has stated that any Ukrainian who registers on the website would receive a free $25 bonus. Vitalik Buterin, the co-founder of Ethereum, has also called for an end to the conflict, claiming that it is harming both Ukrainians and Russians. Buterin is a programmer who was born in Russia.

Russia has hinted about embracing foreign Bitcoin trading before the invasion. Putin has also stated that trusted bitcoin mining might provide significant revenue for the government.

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