Zelensky Approves Sanctions Against PIN-UP Founders and Related Companies
President of Ukraine Volodymyr Zelensky approved sanctions against the founders of PIN-UP and nine legal entities, including: LLC “Ukr Game Technology” (Ukraine), LLC “Tranitadevelopment” (Ukraine), LLC “Turbo.UA” (Ukraine), LLC “Victoria-Soft”, Guruflow Team Ltd (Cyprus), Piprose Holding Ltd (Cyprus), Monak Limited (Cyprus), B.W.I. Black-Wood Limited (Cyprus), and Carletta N.V. (Curaçao).
Presidential Decree and List of Sanctioned Entities
Decree No. 344/2025 was published on the website of the President of Ukraine and concerns the imposition of sanctions against nine legal and three individuals — citizens of the Russian Federation associated with the activities of the online casino Pin-Up.
Individuals Subject to Sanctions:
- Dmitry Punin
- Ivan Bannikov
- Alexander Matyashov
Legal Entities Under Sanctions:
| Company Name | Country of Registration |
|---|---|
| LLC “Ukr Game Technology” | Ukraine |
| LLC “Tranitadevelopment” | Ukraine |
| LLC “Turbo.UA” | Ukraine |
| LLC “Victoria-Soft” | not specified |
| Guruflow Team Ltd | Cyprus |
| Piprose Holding Ltd | Cyprus |
| Monak Limited | Cyprus |
| B.W.I. Black-Wood Limited | Cyprus |
| Carletta N.V. | Curaçao |
Reasons for Imposing Sanctions
The sanctions were imposed based on an investigation by the State Bureau of Investigation (SBI), the Office of the Prosecutor General, and the State Financial Monitoring Service of Ukraine.
In February 2025, the director of the company operating in Ukraine under the PIN-UP online casino brand was detained. He was informed of suspicion of aiding the aggressor state.
Financial Flows and Ties to the Russian Federation
During the pre-trial investigation, direct ties were established between the PIN-UP online casino and representatives of the Russian Federation, sanctioned entities, as well as financial flows directed towards:
- Filling the budget of the aggressor state
- Supporting activities related to armed aggression against Ukraine
It was also revealed that individuals associated with PIN-UP are conducting business activities in the territory of the so-called “LNR”, further contributing to the financing of the enemy.
Threats to Ukraine
According to the SBI, the use of PIN-UP online casino services had negative consequences for the combat capability of the Defense Forces of Ukraine. Experts confirmed that the actions of these companies pose risks to national security.
Continued Operations in the Russian Federation
The PIN-UP online casino continues to operate in the territory of the Russian Federation and on Russian internet resources, despite the initiated criminal proceedings and the sanctions imposed by the Ukrainian authorities.
Thus, President Zelensky’s decision is aimed at halting the financing of the aggressor and eliminating threats to national security.