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Sanctions can be implemented with a "wind down" period for companies to gradually come into compliance with the sanctions. In the UK, for example, there is a wi
by megapolitics 5y ago
Sanctions can be implemented with a "wind down" period for companies to gradually come into compliance with the sanctions. In the UK, for example, there is a wind down period expiring at 23:59 tonight for sanctions relating to "sovereign debt, loans and money market instruments".[1] The situation in the OP is not necessarily related to any sanctions though, it may be a voluntary act on the part of Wise.
[1] https://sanctionsnews.bakermckenzie.com/uk-introduces-new-financial-trade-and-shipping-sanctions-against-russia/ https://sanctionsnews.bakermckenzie.com/uk-introduces-new-fi...
- hirako2000 5y agothinking of it, it is hard to beleive we live in a democracy that impose all commercial entities to comply with proclaimed sanctions that didn't go through a vote. I suppose it wouldn't make a difference given the popular opinion, but a vote would at least allow for argumentative debates since the impact on businesses and consumer is massive.
- hef19898 5y agoIt also takes time to figure out if, and in what way, a given company is affected by sanctions. Sometimes its straight forward, most of the time it is not.