Russian car-sales platform CarPrice limits payouts after investor branded ‘extremist’ for aiding Ukraine
CarPrice, a Russian used-car sales platform, has temporarily limited payments to individuals and businesses, according to the Russian business outlet RBC. In an official response to a customer’s inquiry, the company said:
Russian used-car sales platform CarPrice has temporarily restricted payouts to individuals and businesses, following allegations that its investor Alexander Galitsky aided Ukraine, according to Russian business outlet RBC. The company cited a structural change as the reason for the payment pause, promising to resume them soon, including interest for the delay.
CarPrice spokespersons declined to comment on the situation. CarPrice facilitates vehicle sales through online auctions, where dealers compete to bid for the highest price. Once accepted, owners sign a contract and receive immediate payment. The restrictions may pertain to refunded dealer deposits. In March, Moscow's Tverskoy District Court labeled Galitsky and his investment firm Almaz Capital Partners as an "extremist association" due to allegations of supporting Ukraine's Armed Forces.
The court seized CarPrice, which was previously owned by Galitsky's fund, and transferred it to Rostec. Galitsky, a Russian citizen with Dutch citizenship, left Russia shortly after the ruling.
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