Ukrainian President Viktor Yushchenko has reportedly signed a law banning gambling in the country, despite having previously vetoed the legislation.

According to local reports, the ban will be in effect until new legislation is drawn up to create gambling zones, similar to those proposed for Russia. Businesses that continue to offer gambling facilities will be subject to large fines and will have their equipment confiscated.

The news of the president’s u-turn prompted Russian operator Alsart to announce that it is to sell 11,000 machines from its Ukrainian operations to focus on markets in which gambling is legal.