Russia's Zolotaya Korona money transfer system has stopped processing transfers to Georgia, Armenia, Kazakhstan and several other countries, according to reports by the Telegram channel Code of the Durov, Current Time and other outlets.
Transfers are now available only to four destinations — Turkey, Azerbaijan, Uzbekistan and Kyrgyzstan. The service had been one of the key channels for sending money from Russia abroad, especially after the withdrawal of Visa and MasterCard.
Zolotaya Korona's support service told RBC that “at the moment, some transfer destinations are unavailable.” A reporter for the outlet was unable to complete a transfer to Kazakhstan.
On July 23, the European Union adopted its 21st sanctions package, adding 218 new entries — 48 individuals and 170 legal entities. The restrictions targeted, among others, Zolotaya Korona's operator — the Novosibirsk-based non-bank credit organization “Payment Center.” The EU stated that this organization operates in the banking sector, which generates significant revenue for the Russian authorities.
Assets of the Payment Center within the European Union must be frozen, and EU citizens and companies are prohibited from providing it with money or other economic resources.
In August 2024, Zolotaya Korona's developer — the Center for Financial Technologies — was hit by U.S. sanctions. At that time, Georgian banks suspended transfers via the Russian system for several days.
In addition to the Payment Center, the new EU sanctions also targeted Digital Bank and the non-bank credit organization “Mobile Card,” which handles transfers for bookmaker bets.