Mintos has further limited its exposure to loans from Russia, after initially removing Russian and Ukrainian loans from its conservative strategy only.
The European peer-to-peer lending platform has now excluded all loans from Russia and Ukraine from the Mintos primary market.
It has removed all companies that issue loans in Russia and Ukraine from the Mintos strategies, and paused the placement of new loans from Russia and Ukraine on the platform until further notice. It has also paused currency exchange to and from the rouble for all currencies.
“On 24 February 2022, the Russia-Ukraine crisis turned into a Russian invasion of Ukraine,” Mintos wrote, in a blog on the company website.
“Ukraine has imposed martial law in the country, while this new development resonates across international financial markets.
“At the moment, we are observing a further growing risk of sanctions that might impact settlement transfers from these markets, and a currency risk that is already materializing, without predictable outcomes in the upcoming period.”
The new limitations will affect loans from Creditter, DoZarplati, EcoFinance, Kviku, Lime, Mikro Kapital, Mokka, and SOSCREDIT.
Mintos’ secondary market will remain open for investors’ activity with loans from Russia and Ukraine until further notice.
“We want you to know that Mintos people stand with all colleagues, investors, and business partners who are impacted by the emerging war in Ukraine,” the platform added.