QIWI plc faces operational challenges related to suppliers, including conducting international payments and risks of frozen funds or suspended transactions in cross-border payments. As of December 31, 2023, payments to partners totaling RUB 0.5 billion were restricted, a decrease from RUB 2.0 billion as of December 31, 2022. In response to these challenges and geopolitical risks, QIWI plc decided to restructure and exit the Russian market. The company processes payments in rubles, which may involve Russian financial institutions or individuals sanctioned by the US, EU, UK, and other countries. QIWI plc believes its interactions comply with sanctions laws but acknowledges the risk that future sanctions could impact its business relationships and operations. Ongoing geopolitical developments and potential new sanctions create uncertainty that could materially affect the company's business, financial condition, and results of operations.
Qiwi Plc's Comment on Supply Chain
QIWI plc faces operational challenges related to suppliers, including conducting international payments and risks of frozen funds or suspended transactions in cross-border payments. As of December 31, 2023, payments to partners totaling RUB 0.5 billion were restricted, a decrease from RUB 2.0 billion as of December 31, 2022. In response to these challenges and geopolitical risks, QIWI plc decided to restructure and exit the Russian market. The company processes payments in rubles, which may involve Russian financial institutions or individuals sanctioned by the US, EU, UK, and other countries. QIWI plc believes its interactions comply with sanctions laws but acknowledges the risk that future sanctions could impact its business relationships and operations. Ongoing geopolitical developments and potential new sanctions create uncertainty that could materially affect the company's business, financial condition, and results of operations.
Sources:
Qiwi Plc's official press releases and regulatory filings; CSIMarket.com's supply-chain research; and the financial filings and press releases of other companies cited in this report.
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